Seagate Technology (NASDAQ:STX) Upgraded at Zacks Research

Key Points

• Seagate Technology (NASDAQ:STX) has been upgraded by Zacks Research from a "hold" to a "strong-buy" rating, indicating increased investor confidence in the company's stock.
• Analysts have raised their price targets for Seagate, with Cantor Fitzgerald setting it as high as $280.00 and Morgan Stanley at $265.00, reflecting optimism about the company's performance.
• Seagate reported a 29.5% year-over-year increase in revenue, generating $2.44 billion in their latest quarterly results, which exceeded analyst expectations.

Seagate Technology (NASDAQ:STX - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other brokerages also recently issued reports on STX. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $175.00 to $280.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Seagate Technology in a report on Saturday, September 27th. Rosenblatt Securities upped their price target on shares of Seagate Technology from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 29th. Sanford C. Bernstein initiated coverage on shares of Seagate Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $250.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of Seagate Technology from $168.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $193.32.

Seagate Technology Price Performance

Shares of STX opened at $252.79 on Thursday. Seagate Technology has a one year low of $63.19 and a one year high of $264.83. The company has a market cap of $53.84 billion, a P/E ratio of 37.34, a P/E/G ratio of 1.14 and a beta of 1.63. The firm has a 50 day simple moving average of $183.78 and a two-hundred day simple moving average of $135.66.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, analysts expect that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, insider James Ci Lee sold 1,116 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider owned 257 shares of the company's stock, valued at approximately $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total transaction of $376,250.00. Following the sale, the director directly owned 352 shares in the company, valued at $52,976. This trade represents a 87.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,935 shares of company stock valued at $14,394,416. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of institutional investors have recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new position in shares of Seagate Technology during the 2nd quarter worth about $27,000. Rakuten Securities Inc. boosted its position 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 in the last quarter. MTM Investment Management LLC bought a new position in shares of Seagate Technology during the 2nd quarter worth about $29,000. Wayfinding Financial LLC bought a new position in shares of Seagate Technology during the 1st quarter worth about $31,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

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