Seagate Technology (NASDAQ:STX) Rating Increased to Strong-Buy at Zacks Research

Posted by George Bondi on Jul 30th, 2026

Zacks Research upgraded shares of Seagate Technology (NASDAQ:STX – Free Report) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other brokerages also recently issued reports on STX. Cantor Fitzgerald restated an “overweight” rating and set a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday. Citigroup upped their target price on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. BNP Paribas Exane boosted their price target on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $970.00.

Get Our Latest Stock Analysis on Seagate Technology

Seagate Technology Price Performance

NASDAQ:STX opened at $764.43 on Tuesday. The company has a market cap of $171.41 billion, a P/E ratio of 55.07 and a beta of 2.04. The firm’s fifty day moving average price is $895.22 and its two-hundred day moving average price is $622.36. Seagate Technology has a one year low of $138.30 and a one year high of $1,145.00. 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 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 company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 680.78%. Seagate Technology’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts expect that Seagate Technology will post 26.84 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is presently 21.33%.

Insiders Place Their Bets

In other news, EVP Ban Seng Teh sold 989 shares of Seagate Technology stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the transaction, the executive vice president owned 4,290 shares in the company, valued at approximately $3,776,015.10. This trade represents a 18.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total value of $8,636,856.06. Following the transaction, the chief executive officer directly owned 311,517 shares of the company’s stock, valued at $287,972,545.14. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. WealthCollab LLC increased its holdings in shares of Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Seagate Technology in the 1st quarter valued at $39,000. Finally, Concord Wealth Partners bought a new position in shares of Seagate Technology in the 4th quarter valued at $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology News Summary

Here are the key news stories impacting Seagate Technology this week:

Positive Sentiment: Results exceeded expectations: Seagate reported non-GAAP EPS of $5.71 versus the $5.10 consensus and revenue of $3.63 billion versus $3.50 billion. Revenue rose 48.5% year over year, while the company highlighted record profitability and $3.1 billion in fiscal-year free cash flow. Seagate fiscal fourth-quarter results
Positive Sentiment: Upbeat guidance raised confidence: Fiscal first-quarter 2027 EPS is expected at $7.10-$7.50, well above the approximately $5.63 analyst estimate, with revenue guidance of $4.0-$4.2 billion versus consensus near $3.7 billion. The outlook supports the view that demand is not limited to a short-lived AI spending spike. Seagate AI-driven storage outlook
Positive Sentiment: AI storage demand and pricing power: Cloud and data-center customers are expanding storage capacity, while Seagate’s HAMR and Mozaic technologies allow higher-capacity drives without equivalent manufacturing expansion. Analysts cited strong execution, scarce supply and a potentially favorable new pricing environment. Wall Street praises Seagate execution and pricing power
Positive Sentiment: Analyst sentiment improved: Citi, JPMorgan, Wells Fargo, TD Cowen, Wedbush, Susquehanna and Rosenblatt raised their price targets, with targets ranging from $875 to $1,400. Cantor Fitzgerald also reaffirmed an overweight rating with a $1,300 target, reinforcing the bullish reaction to the earnings report.
Neutral Sentiment: Dividend declared: Seagate announced a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The payout provides income support but is modest relative to the stock’s valuation and growth profile.
Negative Sentiment: Valuation and volatility remain risks: The stock trades at a high earnings multiple after a major rally, and its elevated beta leaves it vulnerable if AI infrastructure spending slows. A broader memory-sector selloff and concerns that strong results are already priced in could limit further gains.

About Seagate Technology

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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.