Seagate Technology (NASDAQ:STX) had its price target boosted by research analysts at BMO Capital Markets to $53.00 in a report issued on Tuesday, The Fly reports. The firm presently has a “market perform” rating on the data storage provider’s stock. BMO Capital Markets’ price target suggests a potential downside of 3.83% from the company’s previous close.
A number of other research firms have also recently commented on STX. Cowen restated a “hold” rating and set a $36.00 price target on shares of Seagate Technology in a research note on Friday, October 13th. BidaskClub cut Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Mizuho upped their price target on Seagate Technology from $39.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Group set a $29.00 price target on Seagate Technology and gave the stock a “hold” rating in a research note on Sunday, October 15th. Finally, Barclays upped their price target on Seagate Technology from $29.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.73.
Seagate Technology (STX) opened at $55.11 on Tuesday. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. Seagate Technology has a 52 week low of $30.60 and a 52 week high of $55.62. The company has a market capitalization of $15,940.00, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 0.78 and a beta of 1.68.
In other Seagate Technology news, insider Philip G. Brace sold 5,403 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $36.79, for a total transaction of $198,776.37. Following the transaction, the insider now owns 33,069 shares of the company’s stock, valued at $1,216,608.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Stephen J. Luczo sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $48.99, for a total value of $4,899,000.00. Following the transaction, the chairman now directly owns 95,420 shares in the company, valued at approximately $4,674,625.80. The disclosure for this sale can be found here. Insiders sold 183,120 shares of company stock worth $8,660,988 in the last three months. 0.87% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. IFG Advisory LLC purchased a new position in shares of Seagate Technology during the fourth quarter worth about $394,000. Murphy Capital Management Inc. acquired a new stake in shares of Seagate Technology during the fourth quarter worth about $216,000. Exane Derivatives acquired a new stake in shares of Seagate Technology during the fourth quarter worth about $777,000. Kwmg LLC boosted its stake in shares of Seagate Technology by 2.7% during the fourth quarter. Kwmg LLC now owns 41,817 shares of the data storage provider’s stock worth $1,750,000 after buying an additional 1,117 shares during the period. Finally, Advisor Partners LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth about $258,000. 91.51% of the stock is currently owned by institutional investors.
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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.
