Seagate Technology (NASDAQ:STX) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday. They currently have a $45.46 price target on the data storage provider’s stock. Vetr‘s target price would indicate a potential upside of 7.93% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Craig Hallum raised Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, October 2nd. Zacks Investment Research raised 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, Morgan Stanley boosted their price target on Seagate Technology from $32.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $41.53.

Seagate Technology (NASDAQ STX) traded up $1.65 during mid-day trading on Tuesday, reaching $42.12. The company’s stock had a trading volume of 6,354,875 shares, compared to its average volume of 5,142,097. Seagate Technology has a 1 year low of $30.60 and a 1 year high of $50.96. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The stock has a market capitalization of $11,714.51, a P/E ratio of 9.90, a PEG ratio of 0.54 and a beta of 1.67.

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

In related news, Director Dambisa F. Moyo sold 8,715 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total value of $339,972.15. Following the transaction, the director now owns 3,316 shares in the company, valued at $129,357.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey D. Nygaard purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average price of $37.38 per share, for a total transaction of $186,900.00. The disclosure for this purchase can be found here. Insiders sold 42,481 shares of company stock valued at $1,655,011 in the last ninety days. Company insiders own 0.87% of the company’s stock.

Several large investors have recently added to or reduced their stakes in STX. WFG Advisors LP lifted its stake in shares of Seagate Technology by 16,536.4% in the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after acquiring an additional 3,638 shares in the last quarter. Balentine LLC lifted its stake in shares of Seagate Technology by 56.8% in the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after acquiring an additional 1,619 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Seagate Technology during the second quarter valued at approximately $150,000. SpiderRock Advisors LLC raised its stake in Seagate Technology by 2,419.5% during the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after buying an additional 5,347 shares in the last quarter. Finally, Putnam FL Investment Management Co. acquired a new stake in Seagate Technology during the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

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Seagate Technology Company Profile

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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