Seagate Technology (NASDAQ:STX) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of Seagate Technology (NASDAQ:STX) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

STX has been the subject of several other reports. Citigroup raised their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. TD Cowen lifted their price target on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Barclays lifted their price objective on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Argus increased their price objective on Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Stock Performance

Shares of STX stock opened at $973.44 on Friday. The business’s fifty day simple moving average is $891.36 and its 200-day simple moving average is $664.79. Seagate Technology has a 12-month low of $152.05 and a 12-month high of $1,145.00. The company has a market cap of $220.63 billion, a PE ratio of 70.13 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts expect that Seagate Technology will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Insider Activity

In other news, EVP Ban Seng Teh sold 7,361 shares of Seagate Technology stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $920.80, for a total transaction of $6,778,008.80. Following the sale, the executive vice president owned 2,931 shares of the company’s stock, valued at approximately $2,698,864.80. The trade was a 71.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Christopher Morris sold 168 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $817.76, for a total value of $137,383.68. Following the completion of the transaction, the executive vice president owned 11,920 shares of the company’s stock, valued at $9,747,699.20. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 163,650 shares of company stock valued at $138,616,274 in the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of STX. Integrated Wealth Concepts LLC lifted its stake in Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after purchasing an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Seagate Technology in the 2nd quarter valued at $262,000. Cerity Partners LLC lifted its stake in Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after acquiring an additional 7,517 shares in the last quarter. Sei Investments Co. lifted its stake in Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after acquiring an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after acquiring an additional 462 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate finished fiscal 2026 ahead of expectations, with revenue of $3.63 billion, adjusted EPS of $5.71, and year-over-year revenue growth of 48.5%. Management also guided to fiscal first-quarter 2027 EPS of $7.10 to $7.50, reinforcing expectations for continued earnings growth. How Seagate’s Strong Fiscal 2026 Beat and HAMR Momentum May Impact Seagate Technology Investors
• Positive Sentiment: Non-GAAP gross margin expanded for the 13th consecutive quarter, while quarterly free cash flow reached its strongest level in more than a decade. These trends suggest improving operating leverage and financial flexibility. Seagate Technology Holdings Following Strong FY2026 Results Looks Undervalued By The Narrative
• Positive Sentiment: AI-related storage demand, supply agreements extending beyond 2028, and Seagate’s HAMR-based Mozaic platform are viewed as catalysts for planned mid-20% exabyte growth. Analysts see the company as a potential underappreciated AI-infrastructure beneficiary. The AI Stock Everyone Knows But Few See Becoming a Future Winner
• Positive Sentiment: Upward earnings-estimate revisions are adding to the bullish case, as analysts anticipate that stronger storage demand and expanding margins could produce further upside for STX. Surging Earnings Estimates Signal Upside for Seagate Stock
• Neutral Sentiment: Although some valuation analysis indicates potential discounted-cash-flow upside, Seagate’s substantial multiyear rally and elevated earnings multiple mean the stock is not uniformly viewed as a bargain. Investors remain exposed to storage-industry cyclicality and high expectations. Seagate Stock Could Trade Below Fair Value While Earnings Look Full

Seagate Technology Company Profile

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.