Seagate Technology (NASDAQ:STX) Stock Price Down 5.1% on Analyst Downgrade

Seagate Technology Holdings PLC (NASDAQ:STX) shares were down 5.1% during mid-day trading on Tuesday after Fox Advisors downgraded the stock from an overweight rating to an equal weight rating. The company traded as low as $983.00 and last traded at $1,038.59. Approximately 5,185,729 shares traded hands during trading, an increase of 25% from the average daily volume of 4,163,436 shares. The stock had previously closed at $1,094.04.

STX has been the topic of several other reports. Wall Street Zen upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a report on Friday, March 27th. Mizuho raised their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $831.79.

Insider Buying and Selling

In other Seagate Technology news, Director Shankar Arumugavelu sold 1,000 shares of Seagate Technology stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $927.68, for a total transaction of $927,680.00. Following the transaction, the director directly owned 6,626 shares of the company’s stock, valued at approximately $6,146,807.68. This trade represents a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gianluca Romano sold 903 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the sale, the chief financial officer owned 42,860 shares of the company’s stock, valued at approximately $37,724,943.40. The trade was a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 141,069 shares of company stock worth $107,161,712 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Mizuho raised its price target on Seagate to $1,090 from $875 and kept an Outperform rating, citing improved estimates tied to the company’s AI-related demand outlook. Mizuho Lifts PT on Seagate Technology Holdings (STX)
• Positive Sentiment: Several recent articles highlighted Seagate as one of the biggest AI memory winners this year, with investors and “smart money” still seeing room for further upside after the stock’s powerful year-to-date surge. The smart money agrees that Seagate stock still has room to surge higher
• Neutral Sentiment: Commentary from 24/7 Wall St. said Seagate has had an exceptional run in 2026 as AI-driven storage demand reshapes the outlook for hard-drive makers, but also noted valuation looks stretched after the rally. Up 290% YTD, How High Can Seagate Rally?
• Neutral Sentiment: Another piece suggested Wall Street remains cautious about tech multiple compression and said Seagate may be more attractive on a pullback, implying near-term upside may be limited without a broader market dip. Buy, Hold, or Sell: Wall Street Fears Tech Compression, but This AI Storage Monster Has a Hidden Weapon
• Negative Sentiment: Fox Advisors downgraded Seagate from Overweight to Equal Weight, which likely weighed on the shares by tempering enthusiasm after the strong run-up. Finviz downgrade reference
• Negative Sentiment: Broader memory stocks sold off as the tech rout spread, adding sector pressure on Seagate even though AI-related fundamentals remain constructive. Memory Stock Rout Hits Popular DRAM ETF

Institutional Trading of Seagate Technology

Hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC grew its stake in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in Seagate Technology during the 4th quarter valued at about $28,000. Avion Wealth boosted its holdings in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares during the period. Finally, Concord Wealth Partners bought a new position in Seagate Technology during the 4th quarter worth approximately $28,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Down 5.1%

The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock has a 50 day simple moving average of $781.00 and a 200 day simple moving average of $510.69. The firm has a market capitalization of $232.88 billion, a PE ratio of 98.54 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The business’s quarterly revenue 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. As a group, sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Announces Dividend

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

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.