Seagate Technology (NASDAQ:STX) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Seagate Technology (NASDAQ:STX) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on STX. Cantor Fitzgerald boosted their price objective on shares of Seagate Technology from $1,000.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Monday. Wedbush raised their target price on Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Bank of America lifted their price target on Seagate Technology from $900.00 to $1,000.00 in a research note on Monday, June 8th. Loop Capital boosted their price target on Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Evercore upped their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $874.52.

Seagate Technology Trading Down 0.4%

Shares of Seagate Technology stock opened at $965.00 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. Seagate Technology has a 12-month low of $138.30 and a 12-month high of $1,145.00. The company has a market capitalization of $216.38 billion, a price-to-earnings ratio of 91.56 and a beta of 2.04. The firm’s 50-day moving average price is $835.80 and its two-hundred day moving average price is $540.40.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the company earned $1.90 EPS. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, analysts forecast that Seagate Technology will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is 28.08%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 989 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the transaction, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the transaction, the chief financial officer directly owned 42,860 shares of the company’s stock, valued at $37,724,943.40. The trade was a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 121,069 shares of company stock worth $98,747,112 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State Street Corp grew its position in shares of Seagate Technology by 1.0% in the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after buying an additional 94,527 shares during the last quarter. Morgan Stanley raised its position in shares of Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock worth $1,464,391,000 after acquiring an additional 258,151 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after acquiring an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after acquiring an additional 243,551 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Seagate Technology by 1,510.1% in 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 during the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology News Summary

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

• Positive Sentiment: Cantor Fitzgerald raised its price target on Seagate Technology to $1,300 from $1,000 and reiterated an overweight rating, signaling confidence that the company still has meaningful upside. Benzinga report on Cantor Fitzgerald target increase
• Positive Sentiment: Melius Research initiated coverage with a buy rating and a $1,600 price target, reflecting a very constructive view on Seagate’s earnings power and demand outlook. Benzinga report on Melius initiation
• Positive Sentiment: Several recent articles highlight Seagate as a top AI infrastructure and storage beneficiary, citing strong demand for high-capacity drives, HAMR product wins, and repeated earnings beats as key growth drivers. Zacks AI infrastructure article
• Neutral Sentiment: Some recent coverage remains positive but warns the stock has already rerated dramatically, with one Seeking Alpha piece downgrading the rating from Strong Buy to Buy because a lot of the upside may already be reflected in the current price. Seeking Alpha downgrade article
• Neutral Sentiment: Another article framed Seagate as “too hot to handle,” emphasizing that AI-driven growth is strong but cyclical risks remain, which may temper expectations after the stock’s huge run. Seeking Alpha cyclical risks article
• Negative Sentiment: One Zacks note compared Seagate with Micron and suggested Micron may offer better AI-storage upside, which could shift some investor preference away from STX. Zacks comparison article

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.