Seagate Technology (NASDAQ:STX) Upgraded at Zacks Research

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

STX has been the subject of a number of other reports. The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. UBS Group increased their price objective on shares of Seagate Technology from $385.00 to $440.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Fox Advisors increased their price target on shares of Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Rosenblatt Securities upped their price target on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, TD Cowen raised their price target on Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology Trading Up 2.0%

NASDAQ:STX opened at $424.14 on Tuesday. The firm has a market capitalization of $92.49 billion, a price-to-earnings ratio of 47.98, a price-to-earnings-growth ratio of 0.93 and a beta of 1.62. 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 business has a fifty day moving average price of $343.44 and a 200-day moving average price of $263.69. Seagate Technology has a one year low of $63.19 and a one year high of $459.84.

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

Insiders Place Their Bets

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the sale, the director directly owned 5,601 shares in the company, valued at $1,528,568.91. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $285.56, for a total value of $5,711,200.00. Following the transaction, the chief executive officer directly owned 429,895 shares in the company, valued at approximately $122,760,816.20. The trade was a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 83,955 shares of company stock valued at $29,925,749 in the last three months. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Pension Service lifted its position in shares of Seagate Technology by 28.0% during the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after purchasing an additional 54,722 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Seagate Technology during the 2nd quarter worth approximately $173,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Seagate Technology during the 3rd quarter worth approximately $1,864,000. Nordea Investment Management AB boosted its position in Seagate Technology by 18.0% in the 2nd quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after buying an additional 2,808 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd boosted its position in Seagate Technology by 185.8% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after buying an additional 12,178 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.