Seagate Technology (NASDAQ:STX) had its price objective lifted by investment analysts at FBN Securities to $60.00 in a report issued on Monday, The Fly reports. The brokerage currently has a “sector perform” rating on the data storage provider’s stock. FBN Securities’ price target would suggest a potential upside of 10.52% from the company’s current price.
A number of other research firms have also recently issued reports on STX. TheStreet raised Seagate Technology from a “c+” rating to a “b-” rating in a research note on Tuesday, January 9th. ValuEngine raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Craig Hallum raised Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Monday, October 2nd. Zacks Investment Research raised Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, October 26th. Finally, Vetr cut Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 target price for the company. in a research note on Tuesday, October 31st. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.37.
Shares of Seagate Technology (NASDAQ:STX) traded down $0.65 during trading on Monday, hitting $54.29. The company had a trading volume of 4,684,177 shares, compared to its average volume of 5,782,883. 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 twelve month low of $30.60 and a twelve month high of $55.30. The firm has a market capitalization of $15,900.00, a PE ratio of 20.56, a PEG ratio of 0.78 and a beta of 1.68.
In other Seagate Technology news, insider Philip G. Brace sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $46.44, for a total transaction of $557,280.00. Following the transaction, the insider now owns 27,069 shares of the company’s stock, valued at $1,257,084.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Philip G. Brace sold 5,403 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $36.79, for a total value of $198,776.37. Following the transaction, the insider now directly owns 33,069 shares in the company, valued at approximately $1,216,608.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,120 shares of company stock worth $8,660,988. Company insiders own 0.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Westbourne Investment Advisors Inc. lifted its stake in shares of Seagate Technology by 15.2% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 51,682 shares of the data storage provider’s stock valued at $1,895,000 after acquiring an additional 6,825 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Seagate Technology in the 4th quarter valued at $2,933,000. Geode Capital Management LLC lifted its stake in shares of Seagate Technology by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 2,429,601 shares of the data storage provider’s stock valued at $83,532,000 after acquiring an additional 93,659 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its stake in shares of Seagate Technology by 1.7% in the 4th quarter. Aberdeen Asset Management PLC UK now owns 274,119 shares of the data storage provider’s stock valued at $10,757,000 after acquiring an additional 4,508 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Seagate Technology by 74.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock valued at $63,947,000 after acquiring an additional 703,822 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other 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.
