Zacks Research Downgrades Seagate Technology (NASDAQ:STX) to Hold

Seagate Technology (NASDAQ:STX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Seagate Technology in a report on Monday. They issued an “overweight” rating and a $525.00 target price for the company. Benchmark lifted their price objective on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. China Renaissance upped their price objective on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Sanford C. Bernstein increased their target price on shares of Seagate Technology from $500.00 to $620.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Nineteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $461.00.

Seagate Technology Trading Up 8.1%

Shares of STX opened at $391.76 on Monday. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The firm has a market capitalization of $85.43 billion, a price-to-earnings ratio of 44.32, a PEG ratio of 0.81 and a beta of 1.61. The company has a 50-day moving average of $399.43 and a 200 day moving average of $310.76. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $459.84.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, research analysts expect that Seagate Technology will post 6.83 EPS for the current year.

Insider Transactions at Seagate Technology

In related news, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the sale, the executive vice president directly owned 3,092 shares of the company’s stock, valued at $1,367,560.68. The trade was a 86.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 113,635 shares of company stock worth $44,430,443. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

Institutional investors have recently made changes to their positions in the business. WCM Investment Management LLC purchased a new stake in Seagate Technology in the third quarter valued at about $1,187,621,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock worth $696,262,000 after acquiring an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Norges Bank purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $498,363,000. Finally, Soroban Capital Partners LP raised its position in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Key Stories Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Sanford C. Bernstein raised its price target to $620 (from $500) and kept an Outperform rating, arguing the recent pullback is a buying opportunity and forecasting strong upside for Seagate on AI/cloud demand. Seagate Technology Gets Bold $620 Target From Bernstein — Buy the Dip?
• Positive Sentiment: J.P. Morgan initiated coverage with an Overweight rating and $525 target, citing durable AI‑driven data‑center demand, pricing strength and margin expansion as reasons Seagate can extend gains despite the large run‑up. JPMorgan starts Seagate at Overweight, sees more upside despite 350% rally
• Positive Sentiment: Several outlets and analysts are framing recent pullbacks (partly mechanical/algo driven) as temporary, calling the dip a buying opportunity given Seagate’s recent beat on EPS and revenue, and company guidance pointing to continued strength. Seagate Technology: Why The 20% Plunge Is An Opportunity
• Neutral Sentiment: Analysis on HDD competition and technology — including coverage of Western Digital’s push into next‑gen HAMR and ePMR — underscores that both Seagate and peers are racing to meet surging cloud/AI capacity needs; this is strategic context rather than an immediate hit to Seagate’s outlook. Will Next-Gen HAMR & ePMR Drives Give Western Digital a Storage Edge?
• Neutral Sentiment: Coverage noting potential AI‑related headwinds to HDDs (but not driven by Alphabet’s algorithm changes) flags longer‑term demand mix questions for some workloads; this is being parsed but hasn’t overturned the bullish data‑center story. Seagate’s HDDs Face AI Headwinds, But Not From Alphabet’s New Algorithms
• Negative Sentiment: Sectorwide selling pressure—partly attributed to an apparent Nvidia design/roadmap shift and algorithmic (TurboQuant) trading—triggered a pullback in memory and storage stocks, briefly weighing on Seagate. Nvidia Design Shift Triggers Selloff in Memory Stocks
• Negative Sentiment: Intraday headlines noted sharp declines (one report cited a ~7% drop in a session) before analyst notes arrived, highlighting how momentum/algorithms can amplify downside even when fundamentals remain solid. Seagate stock is crashing 7% today: why JP Morgan is bullish

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.