Seagate Technology (NASDAQ:STX) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Monday. The firm currently has a $45.50 target price on the data storage provider’s stock. Vetr‘s target price would suggest a potential upside of 16.07% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Mizuho reaffirmed a “hold” rating and set a $36.00 price target on shares of Seagate Technology in a research report on Monday, October 9th. FBN Securities cut shares of Seagate Technology from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $40.00 to $32.00 in a research report on Monday, September 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $35.00 price target on shares of Seagate Technology in a research report on Friday, September 1st. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, October 26th. Finally, BidaskClub raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 25th. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Seagate Technology currently has a consensus rating of “Hold” and an average price target of $41.53.

Shares of Seagate Technology (NASDAQ:STX) traded up $0.09 during trading on Monday, reaching $39.20. 4,592,360 shares of the company were exchanged, compared to its average volume of 5,163,834. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. Seagate Technology has a 12-month low of $30.60 and a 12-month high of $50.96. The stock has a market cap of $11,340.00, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.52 and a beta of 1.67.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the company earned $0.99 EPS. The firm’s revenue was down 5.9% on a year-over-year basis. analysts predict that Seagate Technology will post 3.99 earnings per share for the current year.

In other news, CFO David H. Morton, Jr. sold 7,909 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $40.00, for a total transaction of $316,360.00. Following the transaction, the chief financial officer now owns 25,561 shares of the company’s stock, valued at $1,022,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dambisa F. Moyo sold 8,715 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total transaction of $339,972.15. Following the transaction, the director now directly owns 3,316 shares in the company, valued at approximately $129,357.16. The disclosure for this sale can be found here. Insiders have sold 44,981 shares of company stock worth $1,656,761 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Seagate Technology by 74.4% during the second quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock worth $63,947,000 after acquiring an additional 703,822 shares during the period. CIBC World Markets Inc. acquired a new stake in Seagate Technology during the second quarter worth about $9,699,000. Aviva PLC raised its stake in Seagate Technology by 2.8% during the second quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock worth $7,022,000 after acquiring an additional 4,950 shares during the period. LMR Partners LLP raised its stake in Seagate Technology by 390.9% during the second quarter. LMR Partners LLP now owns 24,762 shares of the data storage provider’s stock worth $959,000 after acquiring an additional 19,718 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Seagate Technology during the second quarter worth about $344,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.

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About Seagate Technology

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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