Seagate Technology (NASDAQ:STX) Cut to Hold at Zacks Research

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

Other equities analysts have also issued research reports about the stock. Benchmark upped their target price on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Robert W. Baird lifted their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Cantor Fitzgerald raised their price objective on Seagate Technology from $500.00 to $650.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Finally, TD Cowen lifted their target price on Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $461.00.

Seagate Technology Stock Performance

NASDAQ:STX opened at $423.12 on Monday. The stock has a 50-day moving average price of $401.01 and a 200 day moving average price of $311.55. The stock has a market capitalization of $92.27 billion, a P/E ratio of 47.86, a P/E/G ratio of 0.87 and a beta of 1.61. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $459.84. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the previous year, the firm earned $2.03 EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities research analysts forecast that Seagate Technology will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. Seagate Technology’s payout ratio is 33.48%.

Insider Activity

In other Seagate Technology news, EVP James Ci Lee sold 673 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $348.85, for a total transaction of $234,776.05. Following the transaction, the executive vice president owned 257 shares in the company, valued at $89,654.45. The trade was a 72.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares in the company, valued at approximately $1,367,560.68. This represents a 86.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 113,635 shares of company stock worth $44,430,443. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in STX. Hsbc Holdings PLC boosted its position in shares of Seagate Technology by 97.9% during the fourth quarter. Hsbc Holdings PLC now owns 172,331 shares of the data storage provider’s stock valued at $47,579,000 after buying an additional 85,246 shares during the period. Stance Capital LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth approximately $2,288,000. World Investment Advisors raised its holdings in shares of Seagate Technology by 1.9% in the fourth quarter. World Investment Advisors now owns 11,832 shares of the data storage provider’s stock worth $3,258,000 after buying an additional 226 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Seagate Technology by 18.8% during the 4th quarter. Corient Private Wealth LLC now owns 35,378 shares of the data storage provider’s stock worth $9,745,000 after acquiring an additional 5,590 shares during the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in shares of Seagate Technology by 8.6% during the 4th quarter. Pure Financial Advisors LLC now owns 1,201 shares of the data storage provider’s stock worth $331,000 after acquiring an additional 95 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Sanford C. Bernstein raised its price target sharply to $620 and kept an Outperform rating, highlighting confidence in Seagate’s long-term demand and framing recent weakness as a buying opportunity. Bernstein $620 Target
• Positive Sentiment: JPMorgan initiated coverage with an Overweight (market-available reports indicate an upbeat stance), adding institutional analyst support that can lift sentiment and flows into the stock. JPMorgan Initiates Coverage
• Positive Sentiment: Recent quarterly results beat estimates (EPS and revenue) and management set solid next-quarter EPS guidance, which underpins the rally and the bullish analyst takes. Earnings & Analysis
• Neutral Sentiment: Several bullish commentaries argue the recent pullback is a buying opportunity; these are outlook/opinion pieces that can influence retail sentiment but are not new fundamentals. Opportunity Thesis
• Neutral Sentiment: MarketWatch and other outlets note Seagate outperformed peers on a strong trading day — useful for momentum traders but more descriptive than catalytic. Trading Day Report
• Negative Sentiment: Zacks downgraded STX from “strong-buy” to “hold,” which could temper momentum from recent upgrades and make some investors cautious. Zacks Downgrade
• Negative Sentiment: Analysts and commentaries flagged valuation concerns after the run-up — several pieces argue the stock is pricey versus the story, which raises risk for profit-taking. Valuation Skepticism
• Negative Sentiment: Sector-wide volatility—driven by reports of Nvidia design shifts and algorithm/quant trading (TurboQuant) that hit memory/storage names—adds risk of short-term pullbacks independent of Seagate’s fundamentals. Sector Volatility

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.