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

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

Other equities analysts have also recently issued research reports about the stock. Barclays raised their price target on shares of 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. Melius Research initiated coverage on Seagate Technology in a research report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price target for the company. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Evercore upped their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Trading Down 2.1%

NASDAQ:STX traded down $17.44 during trading hours on Friday, hitting $829.76. 2,801,146 shares of the company were exchanged, compared to its average volume of 4,393,364. The stock has a market capitalization of $188.06 billion, a price-to-earnings ratio of 59.78 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. Seagate Technology has a one year low of $163.86 and a one year high of $1,145.00. The company has a fifty day simple moving average of $870.89 and a 200 day simple moving average of $695.65.

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

Insider Activity

In other Seagate Technology news, EVP John Christopher Morris sold 3,516 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $849.35, for a total value of $2,986,314.60. Following the sale, the executive vice president directly owned 12,805 shares of the company’s stock, valued at approximately $10,875,926.75. The trade was a 21.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 9,862 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $852.97, for a total value of $8,411,990.14. Following the completion of the transaction, the executive vice president directly 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. 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 three months, insiders have sold 193,765 shares of company stock worth $166,634,842. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Trending Headlines about Seagate Technology

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.