Seagate Technology (NASDAQ:STX) had its target price upped by Citigroup to $56.00 in a report released on Tuesday. The firm presently has a “neutral” rating on the data storage provider’s stock. Citigroup’s target price would indicate a potential upside of 2.43% from the company’s current price.
A number of other research analysts have also commented on STX. BTIG Research upped their price objective on shares of Seagate Technology to $63.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley upped their price objective on shares of Seagate Technology from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday. Robert W. Baird upped their target price on shares of Seagate Technology from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday. Mizuho upped their target price on shares of Seagate Technology from $39.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Maxim Group upped their target price on shares of Seagate Technology to $52.00 and gave the company a “neutral” rating in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Seagate Technology currently has an average rating of “Hold” and an average target price of $49.29.
Shares of Seagate Technology (STX) traded down $0.44 on Tuesday, hitting $54.67. 2,186,790 shares of the stock were exchanged, compared to its average volume of 5,788,655. The firm has a market capitalization of $15,940.00, a price-to-earnings ratio of 24.87, a P/E/G ratio of 0.78 and a beta of 1.68. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. Seagate Technology has a 1-year low of $30.60 and a 1-year high of $55.62.
In other Seagate Technology news, CFO David H. Morton, Jr. sold 40,263 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $48.78, for a total transaction of $1,964,029.14. Following the sale, the chief financial officer now directly owns 65,824 shares of the company’s stock, valued at $3,210,894.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Philip G. Brace sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $48.40, for a total transaction of $242,000.00. Following the sale, the insider now directly owns 16,069 shares in the company, valued at $777,739.60. The disclosure for this sale can be found here. Insiders have sold 183,120 shares of company stock worth $8,660,988 over the last ninety days. Insiders own 0.87% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. ValueAct Holdings L.P. grew its stake in shares of 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 valued at $711,782,000 after purchasing an additional 7,642,835 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Seagate Technology by 7,384.8% during the second quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock valued at $104,662,000 after purchasing an additional 2,664,861 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Seagate Technology by 39.4% during the third quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock valued at $96,064,000 after purchasing an additional 817,861 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Seagate Technology by 28.5% during the third quarter. First Trust Advisors LP now owns 3,044,778 shares of the data storage provider’s stock valued at $100,995,000 after purchasing an additional 674,442 shares during the last quarter. Finally, Koch Industries Inc. grew its stake in shares of Seagate Technology by 10,723.0% during the second quarter. Koch Industries Inc. now owns 677,737 shares of the data storage provider’s stock valued at $661,000 after purchasing an additional 671,475 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.
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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.
