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Seagate (NYSE:STX) was downgraded by research analysts at Cross Research from a “buy” rating to a “hold” rating in a report released on Thursday, Analyst Ratings.Net reports.

Shares of Seagate (NYSE:STX) opened at 56.16 on Thursday. Seagate has a 52 week low of $30.26 and a 52 week high of $57.07. The stock’s 50-day moving average is $51.00 and its 200-day moving average is $45.57. The company has a market cap of $18.316 billion and a price-to-earnings ratio of 12.48.

Seagate (NYSE:STX) last issued its quarterly earnings data on Monday, October 28th. The company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by $0.14. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. Analysts expect that Seagate will post $5.30 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Pacific Crest raised their price target on shares of Seagate to $65.00 in a research note to investors on Thursday. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Seagate from an “underweight” rating to a “neutral” rating in a research note to investors on Tuesday, December 17th. They now have a $55.00 price target on the stock, up previously from $36.00. Finally, analysts at Citigroup Inc. upgraded shares of Seagate from a “neutral” rating to a “buy” rating in a research note to investors on Friday, December 13th. They now have a $62.00 price target on the stock, up previously from $47.00. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.24.

Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.

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