Seagate Technology (NASDAQ:STX) Stock Rating Upgraded by Wall Street Zen

by · The Markets Daily

Seagate Technology (NASDAQ:STX – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

STX has been the topic of a number of other reports. Mizuho upped their price target on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Rosenblatt Securities lifted their price objective on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on 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. Cantor Fitzgerald restated an “overweight” rating and set a $1,300.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. Finally, Citigroup upped their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” 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 given a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Check Out Our Latest Research Report on STX

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $916.83 on Friday. The firm has a market cap of $208.48 billion, a P/E ratio of 66.05 and a beta of 2.06. Seagate Technology has a twelve month low of $209.00 and a twelve month high of $1,145.00. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The company has a 50 day moving average of $850.97 and a 200 day moving average of $760.96.

Seagate Technology (NASDAQ:STX – Get Free Report) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the business posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, research analysts expect that Seagate Technology will post 35.7 EPS for the current fiscal year.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the transaction, the chief financial officer directly owned 70,756 shares of the company’s stock, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the transaction, the executive vice president directly owned 5,810 shares in the company, valued at $4,543,884.80. The trade was a 90.08% 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. Over the last ninety days, insiders sold 466,959 shares of company stock worth $378,615,011. 0.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Wealth Solutions LLC grew its position in Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after buying an additional 12 shares during the period. Jones Financial Companies Lllp bought a new position in Seagate Technology in the second quarter worth approximately $39,000. Trust Co. of Vermont bought a new position in Seagate Technology in the second quarter worth approximately $54,000. Triumph Capital Management raised its position in Seagate Technology by 93.5% in the second quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock worth $58,000 after acquiring an additional 29 shares during the period. Finally, Cornerstone Financial Management LLC boosted its stake in shares of Seagate Technology by 109.7% during the 2nd quarter. Cornerstone Financial Management LLC now owns 65 shares of the data storage provider’s stock worth $63,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

(Get Free Report)

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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