Seagate Technology (NASDAQ:STX) had its price target upped by investment analysts at Royal Bank of Canada to $48.00 in a report released on Tuesday, The Fly reports. The firm presently has a “sector perform” rating on the data storage provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 4.35% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Mizuho reissued a “hold” rating and issued a $36.00 price target on shares of Seagate Technology in a report on Monday, October 9th. FBN Securities downgraded shares of Seagate Technology from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $40.00 to $32.00 in a report on Monday, September 11th. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, October 26th. BidaskClub raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 25th. Finally, Jefferies Group set a $29.00 price objective on shares of Seagate Technology and gave the company a “hold” rating in a research note on Sunday, October 15th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.70.
Seagate Technology (NASDAQ:STX) opened at $46.00 on Tuesday. The company has a market cap of $13,310.00, a PE ratio of 17.42, a PEG ratio of 0.57 and a beta of 1.68. 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.
In related news, Director Edward J. Zander sold 15,089 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $38.79, for a total value of $585,302.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey D. Nygaard bought 5,000 shares of Seagate Technology stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of $37.38 per share, with a total value 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 over the last three months. 0.87% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of STX. Vanguard Group Inc. increased its position in Seagate Technology by 7.4% in the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after purchasing an additional 2,292,075 shares during the period. Clearbridge Investments LLC boosted its holdings in Seagate Technology by 4.7% during the fourth quarter. Clearbridge Investments LLC now owns 32,505,983 shares of the data storage provider’s stock worth $1,191,669,000 after buying an additional 1,445,477 shares during the last quarter. ValueAct Holdings L.P. boosted its holdings in Seagate Technology by 55.3% during the third quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock worth $711,782,000 after buying an additional 7,642,835 shares during the last quarter. BlackRock Inc. boosted its holdings in Seagate Technology by 1.4% during the second quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock worth $720,459,000 after buying an additional 256,005 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in Seagate Technology by 58.1% during the second quarter. Pzena Investment Management LLC now owns 15,500,305 shares of the data storage provider’s stock worth $377,587,000 after buying an additional 5,696,037 shares during the last quarter. 91.32% of the stock is 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.
