Seagate Technology (NASDAQ:STX) Upgraded to Strong-Buy at Zacks Research

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

Several other analysts also recently commented on STX. TD Cowen upped their price target on shares of Seagate Technology from $135.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Barclays upped their price target on shares of Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Rosenblatt Securities upped their price target on shares of Seagate Technology from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Benchmark upped their price target on shares of Seagate Technology from $165.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Finally, Susquehanna upped their price objective on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a “negative” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $193.32.

Seagate Technology Stock Down 0.8%

NASDAQ STX opened at $252.79 on Thursday. The firm has a 50 day moving average of $183.78 and a two-hundred day moving average of $135.66. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $264.83. The stock has a market capitalization of $53.84 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 1.14 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities research analysts expect that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insider Activity

In related news, insider James Ci Lee sold 1,116 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider owned 257 shares of the company’s stock, valued at approximately $39,413.52. The trade was a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the sale, the chief executive officer directly owned 485,668 shares in the company, valued at approximately $121,368,433.20. This represents a 3.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,935 shares of company stock valued at $14,394,416 in the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. purchased a new position in Seagate Technology during the 2nd quarter valued at about $27,000. Rakuten Securities Inc. increased its holdings in Seagate Technology by 884.2% during 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 in the last quarter. MTM Investment Management LLC purchased a new position in Seagate Technology during the 2nd quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in Seagate Technology during the 1st quarter valued at about $31,000. Finally, Golden State Wealth Management LLC increased its holdings in Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock valued at $39,000 after acquiring an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.