Seagate Technology (NASDAQ:STX) Cut to “Buy” at Wall Street Zen

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

Several other analysts have also recently weighed in on STX. Loop Capital lifted 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. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wedbush increased their price target on Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Melius Research initiated coverage on Seagate Technology in a research report on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Stock Up 2.2%

Shares of STX stock opened at $994.79 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The firm’s 50-day moving average is $893.72 and its 200-day moving average is $671.34. The stock has a market cap of $225.47 billion, a price-to-earnings ratio of 71.67 and a beta of 2.06. Seagate Technology has a 52-week low of $152.50 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts predict that Seagate Technology will post 34.42 EPS for the current year.

Seagate Technology Announces Dividend

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

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This trade represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 14,091 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $811.25, for a total value of $11,431,323.75. Following the transaction, the chief financial officer directly owned 21,543 shares in the company, valued at $17,476,758.75. This represents a 39.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 163,650 shares of company stock worth $138,616,274. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in STX. Salomon & Ludwin LLC boosted its stake in 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 period. 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. Concord Wealth Partners purchased a new position in shares of Seagate Technology in the fourth quarter worth $28,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 15 shares during the last quarter. Finally, Quarry LP purchased a new position in Seagate Technology during the 4th quarter valued at about $31,000. 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: AI and memory-stock momentum: Seagate moved higher alongside SanDisk, Micron, Marvell and other AI-related hardware companies as investors increased exposure to the data-storage supply chain. Sandisk, Micron, Coherent, Boeing, Apple, Amazon, and More Stocks That Explain Today’s Market
• Positive Sentiment: Strong operating performance: Seagate’s latest quarterly results exceeded expectations, with earnings per share of $5.71 versus a $5.10 consensus estimate and revenue of $3.63 billion versus estimates of $3.50 billion. Revenue grew 48.5% year over year, while management issued first-quarter fiscal 2027 EPS guidance of $7.10 to $7.50. 3 Reasons We Love Seagate (STX)
• Positive Sentiment: Growth-investor appeal: Commentary highlighted Seagate’s above-average financial growth and potential to outperform the broader market. Shares have gained 134% over six months, reflecting confidence in demand for high-capacity storage and AI-related data infrastructure. 3 Reasons Why Growth Investors Shouldn’t Overlook Seagate
• Neutral Sentiment: Macro uncertainty remains: Broader technology trading is occurring ahead of a busy retail-earnings calendar, while investors weigh the Federal Reserve’s next policy decision. Higher interest rates or weaker economic signals could pressure high-growth, high-beta stocks such as STX. Nasdaq Treads Water as Investors Brace for Retail Results

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.