Fox Advisors Downgrades Seagate Technology (STX) – Here’s Why
Key takeaways
- Fox Advisors downgraded Seagate Technology Holdings Plc (NASDAQ:STX) to Equal-Weight from Outperform on June 22.
- Seagate Technology Holdings Plc (NASDAQ:STX) also received a rating update from Wells Fargo on June 1.
- Seagate Technology Holdings Plc (NASDAQ:STX) is a holding company that develops, produces, and distributes data storage products and electronic data storage solutions.
Fox Advisors Downgrades Seagate Technology (STX) – Here’s Why Noor Ul Ain Rehman Sun, June 28, 2026 at 1:39 AM GMT+7 1 min read STX WFC Seagate Technology Holdings Plc (NASDAQ:STX) is one of the best trending AI stocks to watch in 2026. Fox Advisors downgraded Seagate Technology Holdings Plc (NASDAQ:STX) to Equal-Weight from Outperform on June 22. The firm cited concerns that expectations for hard disk drive pricing "may be getting ahead" of likely increases.
Seagate Technology Holdings Plc (NASDAQ:STX) also received a rating update from Wells Fargo on June 1. The firm raised the price target on the stock to $900 from $700 and reiterated an Equal Weight rating on the shares. Wells stated that last week it hosted meetings on its 4th Annual Wells Fargo Silicon Valley Bus Tour, the week before, and each one of them had a positive demand tone, ranging from AI data center build-outs to the proliferation of AI inferencing / Agentic AI, driving significant incremental server CPU demand and continued drives of memory expansion.
Seagate Technology Holdings Plc (NASDAQ:STX) is a holding company that develops, produces, and distributes data storage products and electronic data storage solutions. Its products include solid state drives, serial advanced technology attachment controllers, hard disk drives, solid state hybrid drives, peripheral component interconnect express cards, storage subsystems, and computing solutions.