Zacks Research Downgrades Seagate Technology (NASDAQ:STX) to Hold

Seagate Technology (NASDAQ:STX) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the company. Citigroup lifted their target price on Seagate Technology from $320.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Barclays upped their target price on Seagate Technology from $240.00 to $370.00 and gave the company an “equal weight” rating in a report on Thursday, January 15th. TD Cowen upped their price objective on shares of Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Fox Advisors increased their target price on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $335.61.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $325.99 on Monday. The stock has a market cap of $69.62 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 1.28 and a beta of 1.60. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $336.17. The stock’s 50 day moving average price is $284.51 and its 200 day moving average price is $226.36.

Insider Buying and Selling

In related news, CFO Gianluca Romano sold 54,021 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the completion of the sale, the chief financial officer owned 56,293 shares in the company, valued at $16,052,511.88. This represents a 48.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the transaction, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. This represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,557 shares of company stock valued at $36,847,793 in the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently bought and sold shares of the business. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Seagate Technology during the 4th quarter valued at $37,000. First Horizon Corp bought a new position in Seagate Technology in the 3rd quarter valued at $33,000. Raiffeisen Bank International AG acquired a new stake in shares of Seagate Technology in the third quarter valued at $33,000. Finally, Physician Wealth Advisors Inc. raised its holdings in shares of Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Bank of America reiterated its Buy rating, raised its price target to $400 (from $320), and cited stronger visibility into Q2 revenue and margin growth driven by continued data-center demand and seasonal improvement in consumer/VIA segments. Seagate Technology poised for strong Q2 on data center demand, Bank of America says
• Positive Sentiment: Citigroup raised its target to $385 (from $320) and set a Buy rating — implying roughly mid-to-high teens upside — reflecting bullish analyst views on growth ahead. Benzinga
• Positive Sentiment: Rosenblatt lifted its target to $370 (from $270) and maintains a Buy rating, another vote of confidence supporting near-term upside expectations. Benzinga
• Neutral Sentiment: UBS raised its target to $335 (from $230) but kept a Neutral rating — the new target sits close to the current price, suggesting limited immediate upside from UBS despite the higher valuation. Benzinga
• Neutral Sentiment: A Yahoo Finance piece examines whether Seagate’s push into AI edge storage meaningfully reshapes its competitive moat — a strategic-read that could influence longer-term investor expectations but is uncertain near term. Does Seagate (STX) Leaning Into AI Edge Storage Reframe Its Core Competitive Moat?

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.