Seagate Technology (NASDAQ:STX) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Seagate Technology (NASDAQ:STX) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

STX has been the subject of several other research reports. Argus boosted their price target on Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 30th. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $250.00 to $360.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Morgan Stanley boosted their target price on shares of Seagate Technology from $270.00 to $337.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Benchmark raised their price target on shares of Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, Citigroup lifted their price objective on shares of Seagate Technology from $320.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $335.61.

Seagate Technology Trading Down 0.1%

Shares of NASDAQ:STX opened at $325.99 on Monday. The firm has a market cap of $69.62 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 1.28 and a beta of 1.60. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $336.17. The business has a fifty day simple moving average of $284.51 and a 200 day simple moving average of $226.36.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were issued a $0.74 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.9%. Seagate Technology’s payout ratio is 38.00%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $262.82, for a total value of $5,256,400.00. Following the completion of the sale, the chief executive officer directly owned 465,668 shares of the company’s stock, valued at approximately $122,386,863.76. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephanie Tilenius sold 2,046 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the transaction, the director directly owned 12,244 shares in the company, valued at $3,261,924.04. This trade represents a 14.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 132,557 shares of company stock worth $36,847,793. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. Sovereign Financial Group Inc. grew its position in Seagate Technology by 3.2% in the fourth quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock worth $293,000 after acquiring an additional 33 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Seagate Technology by 0.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider’s stock valued at $1,500,000 after buying an additional 33 shares in the last quarter. West Family Investments Inc. lifted its position in Seagate Technology by 2.7% in the 3rd quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock worth $337,000 after buying an additional 37 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in Seagate Technology by 1.9% in the fourth quarter. Capital Investment Advisors LLC now owns 1,950 shares of the data storage provider’s stock worth $537,000 after buying an additional 37 shares in the last quarter. Finally, United Community Bank boosted its stake in Seagate Technology by 35.2% in the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after buying an additional 44 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

More Seagate Technology News

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

• Positive Sentiment: Citigroup raised its price target from $320 to $385 and kept a “buy” rating, implying roughly +18% upside and signaling stronger revenue/margin expectations. Citigroup raises target
• Positive Sentiment: Bank of America reiterated a Buy, lifted its target to $400 (from $320) and flagged stronger visibility into Q2 revenue and margin growth driven by data-center demand — a bullish operational outlook. Bank of America note Proactive article
• Positive Sentiment: Rosenblatt Securities boosted its target to $370 (from $270) and maintained a “buy,” signaling continued confidence in Seagate’s market positioning and demand trends. Rosenblatt raises target
• Neutral Sentiment: UBS raised its price target to $335 (from $230) but kept a “neutral” rating — the target lift is supportive, but the neutral stance tempers upside expectations (only a few percent above the current price). UBS target update
• Negative Sentiment: Zacks Research downgraded Seagate from “strong-buy” to “hold,” which could apply short-term selling pressure from investors focused on analyst ratings momentum. Zacks downgrade TickerReport summary

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.