Seagate Technology (NASDAQ:STX) Rating Lowered to Equal Weight at Fox Advisors

Key Points

• Fox Advisors downgraded Seagate Technology from “overweight” to “equal weight,” even as the broader analyst community remains constructive with a consensus rating of Moderate Buy and an average price target of $831.79.
• Several other firms recently raised their price targets on STX, including Citigroup, Morgan Stanley, Barclays, Argus, and Rosenblatt, with targets ranging as high as $1,150.
• Seagate reported strong quarterly results, posting EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion, while also issuing Q4 2026 EPS guidance of 4.8 to 5.2.

Seagate Technology (NASDAQ:STX - Get Free Report) was downgraded by equities researchers at Fox Advisors from an "overweight" rating to an "equal weight" rating in a research report issued on Monday, MarketBeat.com reports.

Other research analysts have also issued reports about the stock. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Argus boosted their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Barclays upped their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, May 27th. Morgan Stanley increased their price target on Seagate Technology from $767.00 to $1,035.00 and gave the company an "overweight" rating in a report on Monday, June 15th. Finally, Citigroup lifted their price target on Seagate Technology from $740.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $831.79.

Seagate Technology Price Performance

Shares of STX opened at $1,070.23 on Monday. The stock has a market cap of $239.98 billion, a PE ratio of 101.54 and a beta of 2.04. Seagate Technology has a 1-year low of $130.32 and a 1-year high of $1,145.00. The firm has a fifty day moving average price of $769.13 and a 200 day moving average price of $504.87. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period last year, the firm earned $1.90 EPS. The firm's revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts anticipate that Seagate Technology will post 14.14 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 903 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the transaction, the chief financial officer directly owned 42,860 shares of the company's stock, valued at approximately $37,724,943.40. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 989 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the transaction, the executive vice president directly owned 4,290 shares in the company, valued at $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 141,069 shares of company stock valued at $107,161,712 over the last ninety days. Insiders own 0.79% of the company's stock.

Institutional Trading of Seagate Technology

Large investors have recently made changes to their positions in the business. Evansbrook LLC bought a new position in Seagate Technology in the 1st quarter valued at $892,000. Parallel Advisors LLC increased its stake in Seagate Technology by 11.1% in the 1st quarter. Parallel Advisors LLC now owns 4,353 shares of the data storage provider's stock valued at $1,706,000 after buying an additional 435 shares during the last quarter. NewEdge Advisors LLC lifted its position in Seagate Technology by 85.9% during the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider's stock worth $8,637,000 after buying an additional 10,190 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in Seagate Technology during the first quarter worth about $262,000. Finally, Cozad Asset Management Inc. raised its stake in shares of Seagate Technology by 6.7% during the 1st quarter. Cozad Asset Management Inc. now owns 2,661 shares of the data storage provider's stock worth $1,042,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

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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