Seagate Technology (NASDAQ:STX) Upgraded to Strong-Buy at Zacks Research

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

A number of other equities research analysts also recently commented on the stock. Bank of America increased their price objective on shares of Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Evercore raised their price target on Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Susquehanna raised Seagate Technology from a “negative” rating to a “neutral” rating and upped their price objective for the stock from $150.00 to $280.00 in a research report on Friday, January 16th. Mizuho increased their price objective on Seagate Technology from $440.00 to $475.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Citigroup raised their target price on Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology Stock Performance

Shares of STX opened at $424.14 on Tuesday. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $459.84. The stock has a market capitalization of $92.49 billion, a PE ratio of 47.98, a PEG ratio of 0.93 and a beta of 1.62. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The stock has a 50-day simple moving average of $343.44 and a 200-day simple moving average of $263.69.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. The business’s quarterly 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. On average, analysts predict that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the transaction, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Ci Lee sold 673 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $348.85, for a total value of $234,776.05. Following the transaction, the executive vice president directly owned 257 shares in the company, valued at approximately $89,654.45. This represents a 72.37% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 83,955 shares of company stock valued at $29,925,749. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in STX. Gateway Investment Advisers LLC lifted its holdings in shares of Seagate Technology by 1.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock worth $385,000 after purchasing an additional 25 shares during the period. Trajan Wealth LLC increased its holdings in Seagate Technology by 1.9% in the fourth quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock valued at $365,000 after buying an additional 25 shares in the last quarter. Fortis Capital Management LLC boosted its position in Seagate Technology by 1.1% during the fourth quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider’s stock worth $704,000 after purchasing an additional 27 shares in the last quarter. EWA LLC increased its position in shares of Seagate Technology by 2.1% in the fourth quarter. EWA LLC now owns 1,370 shares of the data storage provider’s stock valued at $377,000 after buying an additional 28 shares in the last quarter. Finally, Icon Wealth Advisors LLC increased its position in shares of Seagate Technology by 2.7% in the fourth quarter. Icon Wealth Advisors LLC now owns 1,060 shares of the data storage provider’s stock valued at $292,000 after buying an additional 28 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.