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

Zacks Research lowered shares of Seagate Technology (NASDAQ:STX) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the company. TD Cowen increased their target price on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. The Goldman Sachs Group upped their price target on Seagate Technology from $280.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Wedbush lifted their target price on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Susquehanna upgraded Seagate Technology from a “negative” rating to a “neutral” rating and increased their price target for the stock from $150.00 to $280.00 in a research report on Friday, January 16th. Finally, UBS Group raised their price target on Seagate Technology from $230.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.41.

Seagate Technology Trading Up 5.6%

Seagate Technology stock opened at $344.22 on Monday. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $349.55. The stock has a market cap of $73.51 billion, a P/E ratio of 44.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.60. The stock has a 50 day moving average of $285.72 and a 200-day moving average of $227.19.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th were paid a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio (DPR) is presently 38.00%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Kian Fatt Chong sold 7,078 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $272.14, for a total value of $1,926,206.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Gianluca Romano sold 54,021 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the transaction, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. This trade represents a 48.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 132,557 shares of company stock valued at $36,847,793. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

A number of large investors have recently added to or reduced their stakes in STX. Sovereign Financial Group Inc. lifted its position in shares of Seagate Technology by 3.2% during the 4th quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock valued at $293,000 after acquiring an additional 33 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in Seagate Technology by 0.6% during the fourth 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 stake in Seagate Technology by 2.7% during the third quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock valued at $337,000 after buying an additional 37 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of 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 during the period. Finally, United Community Bank increased its position in shares of 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 acquiring an additional 44 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Bank of America reiterated a Buy on STX and raised its target to $400, citing stronger visibility into revenue and margin growth and forecasting a robust fiscal Q2 driven by data‑center demand. Bank of America note / Proactive
• Positive Sentiment: Citigroup raised its price target to $385 and maintained a Buy rating, signaling analyst conviction that Seagate will capture AI/data‑center storage spending. Citigroup raise / Benzinga
• Positive Sentiment: BNP Paribas Exane upgraded STX from Neutral to Outperform with a $380 target — another upward revision that helped lift market sentiment. BNP Paribas upgrade / Finviz
• Positive Sentiment: Sector narrative: analysts and market pieces are shifting attention from GPUs to storage as AI workloads increase demand for both hot‑tier SSDs and large‑capacity HDDs — a structural tailwind for Seagate’s enterprise/data‑center business. Yahoo: Seagate rises after upgrade
• Neutral Sentiment: Rosenblatt and UBS raised targets (Rosenblatt to $370 buy; UBS raised its PT to $335 but kept a Neutral rating), reflecting higher earnings/valuation expectations while showing some variation in conviction. Rosenblatt/UBS / Benzinga
• Neutral Sentiment: Recent writeups looked at Seagate’s valuation after the rounds of upgrades and AI storage commentary — useful context for investors reassessing multiples amid faster revenue/margin visibility. Yahoo Finance valuation piece
• Negative Sentiment: Not all coverage is uniformly bullish: Zacks trimmed its rating from Strong‑Buy to Hold, introducing a countervailing view on near‑term upside and reminding investors some analysts see less immediate upside. Zacks downgrade TickerReport

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.