Seagate Technology (NASDAQ:STX) Stock Rating Lowered by Wall Street Zen

Seagate Technology (NASDAQ:STX) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday, Wall Street Zen reports.

Several other analysts also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Mizuho raised their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Bank of America lifted their price objective on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Citigroup raised their price target on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Evercore boosted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Price Performance

STX stock opened at $849.28 on Friday. The stock has a market capitalization of $192.49 billion, a PE ratio of 61.19 and a beta of 2.06. The company’s 50-day moving average is $849.54 and its 200-day moving average is $714.80. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. Seagate Technology has a 1 year low of $183.02 and a 1 year 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 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 firm’s revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts expect that Seagate Technology will post 35.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ban Teh sold 9,862 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the completion of the sale, the executive vice president directly owned 5,210 shares of the company’s stock, valued at $4,443,973.70. This trade represents a 65.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 14,091 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $811.25, for a total transaction of $11,431,323.75. Following the completion of the transaction, the chief financial officer directly owned 21,543 shares in the company, valued at $17,476,758.75. This trade represents a 39.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 191,765 shares of company stock valued at $161,865,249. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. NewEdge Advisors LLC lifted its holdings in Seagate Technology by 85.9% during the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after purchasing an additional 10,190 shares during the last quarter. GLOBALT Investments LLC GA lifted its stake in shares of Seagate Technology by 820.8% during the 4th quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock valued at $2,688,000 after buying an additional 8,700 shares in the last quarter. Tredje AP fonden boosted its holdings in Seagate Technology by 446.6% in the 4th quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock worth $30,662,000 after buying an additional 90,968 shares during the period. USA Financial Formulas purchased a new position in Seagate Technology in the 1st quarter valued at approximately $1,328,000. Finally, Profund Advisors LLC raised its holdings in Seagate Technology by 458.6% during the 4th quarter. Profund Advisors LLC now owns 20,282 shares of the data storage provider’s stock valued at $5,585,000 after acquiring an additional 16,651 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.