Seagate Technology (NASDAQ:STX) Upgraded at Wall Street Zen

Seagate Technology (NASDAQ:STX) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other equities research analysts have also recently weighed in on STX. Melius Research began coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price target for the company. Citigroup lifted their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Barclays boosted their target price on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Finally, Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Price Performance

Shares of STX stock traded down $17.44 during mid-day trading on Friday, hitting $829.76. 2,801,146 shares of the stock were exchanged, compared to its average volume of 4,393,364. The company has a market cap of $188.06 billion, a PE ratio of 59.78 and a beta of 2.06. The firm has a fifty day moving average of $870.89 and a 200 day moving average of $695.65. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology has a 52-week low of $163.86 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. Seagate Technology’s revenue was up 48.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts anticipate that Seagate Technology will post 35.7 earnings per share for the current year.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 9,862 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the sale, the executive vice president owned 5,210 shares of the company’s stock, valued at approximately $4,443,973.70. This trade represents a 65.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 20,657 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $910.48, for a total value of $18,807,785.36. Following the completion of the transaction, the chief executive officer directly owned 320,860 shares of the company’s stock, valued at $292,136,612.80. This trade represents a 6.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 193,765 shares of company stock valued at $166,634,842. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently made changes to their positions in STX. Retirement Wealth Solutions LLC lifted its holdings in shares of Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after buying an additional 13 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the period. Blalock Williams LLC increased its position in Seagate Technology by 2.6% during the second quarter. Blalock Williams LLC now owns 636 shares of the data storage provider’s stock worth $614,000 after buying an additional 16 shares during the period. Finally, Beaumont Financial Advisors LLC lifted its stake in Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology News Roundup

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

• Positive Sentiment: One bullish analysis argues that the pullback creates an attractive entry point, with strong hyperscaler demand, increasing adoption of Seagate’s heat-assisted magnetic recording (HAMR) technology and improving margins supporting continued earnings growth. The article estimates as much as 36% potential upside. Seagate buy-the-dip analysis
• Positive Sentiment: NVIDIA’s strong quarterly results and continuing AI infrastructure spending were cited as potential catalysts for storage companies, including STX. Rising data-center workloads could increase demand for Seagate’s high-capacity hard drives. Zacks storage stocks analysis
• Positive Sentiment: Seagate accepted Change Agents Corporation into its partner program, expanding access to its AI infrastructure ecosystem. The announcement is strategically supportive, although the immediate financial contribution is not disclosed. Seagate Partner Program announcement
• Neutral Sentiment: Management’s upcoming investor appearances, including The Six Five Summit: AI Unleashed 2026, could provide additional details on AI-related products, partnerships and demand, but no new financial guidance was announced. Six Five Summit presentation
• Negative Sentiment: A more cautious Seeking Alpha view says it is not yet time to be aggressive, warning that consolidation may continue after STX’s major run-up. The stock’s elevated valuation and high volatility leave it vulnerable to profit-taking if growth expectations moderate. Seagate consolidation analysis
• Negative Sentiment: Executive James Ci Lee sold 9,013 shares worth approximately $7.16 million, reducing his direct position by more than 96%. The sale occurred under a pre-arranged Rule 10b5-1 plan, which limits its value as a discretionary bearish signal but may still weigh on sentiment. SEC insider sale filing

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.