Seagate Technology (NASDAQ:STX) Upgraded to “Strong-Buy” at Wall Street Zen

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

STX has been the subject of several other research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,350.00 price objective on shares of Seagate Technology in a research report on Wednesday. China Renaissance upped their target price on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. UBS Group raised their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. Finally, TD Cowen upped their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday. One equities 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Trading Up 0.5%

Shares of STX opened at $856.13 on Friday. Seagate Technology has a 12 month low of $144.75 and a 12 month high of $1,145.00. The stock’s 50-day moving average is $896.91 and its two-hundred day moving average is $627.82. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.85. The stock has a market cap of $191.97 billion, a PE ratio of 61.68 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts forecast that Seagate Technology will post 33.08 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued 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 dividend 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 shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the sale, the executive vice president directly owned 11,954 shares of the company’s stock, valued at $8,826,474.98. The trade was a 32.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Seagate Technology by 1,510.1% during the 4th 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 buying an additional 1,883,769 shares during the last quarter. Norges Bank acquired a new stake in Seagate Technology during the fourth quarter worth about $498,363,000. Soroban Capital Partners LP lifted its holdings in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after acquiring an additional 943,170 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Seagate Technology by 102.0% in the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock valued at $440,614,000 after acquiring an additional 807,962 shares during the period. 92.87% of the stock is owned by institutional investors.

Key Seagate Technology News

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

• Positive Sentiment: Strong earnings and guidance: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus estimate, while revenue reached $3.63 billion against expectations of $3.50 billion. Revenue increased 48.5% year over year, and fiscal Q1 2027 EPS guidance of $7.10-$7.50 exceeded the bullish outlook. Seagate Technology Shares Up After Earnings Beat
• Positive Sentiment: AI storage demand is the central growth catalyst: Cloud providers and data centers are reserving high-capacity HDDs for AI training data, model outputs and other persistent data. Allocated nearline supply through 2028, expanding Mozaic drives and HAMR technology—supporting capacities of up to 44TB—provide Seagate with unusually strong demand visibility. Seagate HAMR and AI Storage Growth
• Positive Sentiment: Analyst sentiment has strengthened: Zacks upgraded STX to “strong buy,” while Argus and Barclays raised price targets to $900 and $1,250, respectively. Citi, JPMorgan, Wedbush, TD Cowen, Susquehanna and Wells Fargo also issued bullish outlooks, contributing to a consensus “moderate buy” rating. Analysts Raise Seagate Price Targets
• Neutral Sentiment: Broader AI infrastructure enthusiasm is supporting storage stocks as major technology companies are expected to spend more than $750 billion on AI infrastructure in 2026. This improves the industry backdrop but also means STX’s valuation and performance remain sensitive to AI spending expectations.
• Negative Sentiment: Valuation risk is rising: After a substantial 2026 rally, Seagate trades at a premium earnings multiple. Analysts note that strong execution is already reflected in the stock, leaving less room for delays in HAMR adoption, weaker pricing or any slowdown in data-center demand. Seagate Valuation After Its Rally

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.