Seagate Technology (NASDAQ:STX) Stock Bumped Up to Strong-Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded Seagate Technology to “strong buy” from “buy.” The stock has a consensus “moderate buy” rating, with 22 buy ratings, four holds, and an average price target of $986.
• Seagate reported quarterly EPS of $5.71, beating estimates of $5.10, while revenue rose 48.5% year over year to $3.63 billion. The company also issued fiscal Q1 2027 EPS guidance of $7.10–$7.50.
• Company insiders sold 466,959 shares worth approximately $378.6 million over the past 90 days, including significant sales by the CEO and CFO to cover tax obligations tied to vested equity awards.

Seagate Technology (NASDAQ:STX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Mizuho boosted their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. JPMorgan Chase & Co. increased their price target on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. TD Cowen lifted their price target on Seagate Technology from $850.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Argus boosted their price objective on Seagate Technology from $750.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Susquehanna upped their price objective on Seagate Technology from $775.00 to $875.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $986.00.

Seagate Technology Stock Performance

Seagate Technology stock opened at $916.83 on Friday. The stock has a market cap of $208.48 billion, a P/E ratio of 66.05 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The stock has a 50 day moving average of $850.97 and a 200-day moving average of $758.26. Seagate Technology has a 52 week low of $209.00 and a 52 week high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business's revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts expect that Seagate Technology will post 35.7 EPS for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 97,889 shares of the business's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the completion of the sale, the chief executive officer owned 378,108 shares of the company's stock, valued at $291,952,311.12. This represents a 20.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the sale, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 466,959 shares of company stock valued at $378,615,011. Corporate insiders own 0.51% of the company's stock.

Institutional Trading of Seagate Technology

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider's stock valued at $2,329,641,000 after acquiring an additional 2,326,538 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Seagate Technology by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after purchasing an additional 243,551 shares during the last quarter. National Pension Service raised its holdings in shares of Seagate Technology by 0.8% during the 2nd quarter. National Pension Service now owns 834,705 shares of the data storage provider's stock valued at $805,490,000 after purchasing an additional 6,944 shares in the last quarter. Norges Bank bought a new position in Seagate Technology during the fourth quarter valued at about $498,363,000. Finally, Deutsche Bank AG increased its holdings in shares of Seagate Technology by 102.0% during the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock valued at $440,614,000 after acquiring an additional 807,962 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.

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