Zacks Research lowered shares of Seagate Technology (NASDAQ:STX – Free Report) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.
Several other research firms also recently commented on STX. Evercore increased their price objective on shares of Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Barclays boosted their target price on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. Susquehanna raised Seagate Technology from a “negative” rating to a “neutral” rating and increased their price target for the company from $150.00 to $280.00 in a research note on Friday, January 16th. Morgan Stanley raised their price target on Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research note on Friday. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average price target of $461.00.
Read Our Latest Stock Analysis on STX
Seagate Technology Trading Up 8.1%
Seagate Technology (NASDAQ:STX – Get Free Report) last issued 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. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. Seagate Technology’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities analysts predict that Seagate Technology will post 6.83 earnings per share for the current fiscal year.
Seagate Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.8%. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.
Insider Activity at Seagate Technology
In other Seagate Technology news, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the sale, the director directly owned 223 shares in the company, valued at $99,908.46. This represents a 80.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ban Seng Teh sold 20,195 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares of the company’s stock, valued at $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,635 shares of company stock valued at $44,430,443 over the last ninety days. 0.79% of the stock is currently owned by company insiders.
Institutional Trading of Seagate Technology
A number of institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC lifted its holdings in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the period. Armstrong Advisory Group Inc. bought a new position in Seagate Technology during the 4th quarter valued at about $28,000. Avion Wealth raised its position in Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Concord Wealth Partners purchased a new stake in Seagate Technology in the 4th quarter worth about $28,000. 92.87% of the stock is currently owned by institutional investors.
Trending Headlines about Seagate Technology
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Sanford C. Bernstein raised its price target to $620 (from $500) and kept an Outperform rating, arguing the recent pullback is a buying opportunity and forecasting strong upside for Seagate on AI/cloud demand. Seagate Technology Gets Bold $620 Target From Bernstein — Buy the Dip?
- Positive Sentiment: J.P. Morgan initiated coverage with an Overweight rating and $525 target, citing durable AI?driven data?center demand, pricing strength and margin expansion as reasons Seagate can extend gains despite the large run?up. JPMorgan starts Seagate at Overweight, sees more upside despite 350% rally
- Positive Sentiment: Several outlets and analysts are framing recent pullbacks (partly mechanical/algo driven) as temporary, calling the dip a buying opportunity given Seagate’s recent beat on EPS and revenue, and company guidance pointing to continued strength. Seagate Technology: Why The 20% Plunge Is An Opportunity
- Neutral Sentiment: Analysis on HDD competition and technology — including coverage of Western Digital’s push into next?gen HAMR and ePMR — underscores that both Seagate and peers are racing to meet surging cloud/AI capacity needs; this is strategic context rather than an immediate hit to Seagate’s outlook. Will Next-Gen HAMR & ePMR Drives Give Western Digital a Storage Edge?
- Neutral Sentiment: Coverage noting potential AI?related headwinds to HDDs (but not driven by Alphabet’s algorithm changes) flags longer?term demand mix questions for some workloads; this is being parsed but hasn’t overturned the bullish data?center story. Seagate’s HDDs Face AI Headwinds, But Not From Alphabet’s New Algorithms
- Negative Sentiment: Sectorwide selling pressure—partly attributed to an apparent Nvidia design/roadmap shift and algorithmic (TurboQuant) trading—triggered a pullback in memory and storage stocks, briefly weighing on Seagate. Nvidia Design Shift Triggers Selloff in Memory Stocks
- Negative Sentiment: Intraday headlines noted sharp declines (one report cited a ~7% drop in a session) before analyst notes arrived, highlighting how momentum/algorithms can amplify downside even when fundamentals remain solid. Seagate stock is crashing 7% today: why JP Morgan is bullish
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.
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