Seagate Technology (STX) PT Raised to $63.00

Seagate Technology (NASDAQ:STX) had its price target boosted by analysts at BTIG Research to $63.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the data storage provider’s stock. BTIG Research’s price objective would indicate a potential upside of 14.32% from the stock’s current price.

STX has been the subject of a number of other reports. 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. Vetr raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating and set a $41.39 price objective for the company in a research note on Monday, November 6th. Argus reissued a “hold” rating and set a $40.00 price objective on shares of Seagate Technology in a research note on Tuesday, October 24th. Guggenheim reissued a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Finally, Cowen reissued a “hold” rating and set a $36.00 price objective on shares of Seagate Technology in a research note on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.73.

Shares of Seagate Technology (NASDAQ:STX) opened at $55.11 on Tuesday. Seagate Technology has a 12-month low of $30.60 and a 12-month high of $55.62. 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 cap of $15,940.00, a P/E ratio of 25.16, a PEG ratio of 0.78 and a beta of 1.68.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.09. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period last year, the company posted $1.38 EPS. The company’s revenue was up .7% on a year-over-year basis. sell-side analysts anticipate that Seagate Technology will post 4.54 earnings per share for the current year.

In other Seagate Technology news, Chairman Stephen J. Luczo sold 100,000 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $48.99, for a total value of $4,899,000.00. Following the transaction, the chairman now owns 95,420 shares in the company, valued at approximately $4,674,625.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip G. Brace sold 5,000 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $48.40, for a total transaction of $242,000.00. Following the completion of the transaction, the insider now owns 16,069 shares in the company, valued at approximately $777,739.60. The disclosure for this sale can be found here. Insiders have sold a total of 183,120 shares of company stock worth $8,660,988 in the last 90 days. Company insiders own 0.87% of the company’s stock.

A number of hedge funds have recently modified their holdings of STX. Assetmark Inc. raised its stake in shares of Seagate Technology by 43.5% in the 3rd quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock valued at $4,835,000 after purchasing an additional 44,171 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at about $344,000. Iat Reinsurance Co. LTD. acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at about $12,455,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $346,000. Finally, Bristol Advisors LLC acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $711,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Seagate Technology (NASDAQ:STX)