Seagate Technology (NASDAQ:STX) had its target price upped by equities researchers at Robert W. Baird from $40.00 to $48.00 in a research report issued on Tuesday. The brokerage presently has a “neutral” rating on the data storage provider’s stock. Robert W. Baird’s target price would suggest a potential downside of 12.20% from the stock’s current price.
Other research analysts also recently issued reports about the company. Citigroup boosted their price objective on Seagate Technology from $34.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 24th. Zacks Investment Research downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Mizuho boosted their price objective on Seagate Technology from $39.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday. Loop Capital boosted their price objective on Seagate Technology to $65.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Maxim Group boosted their price objective on Seagate Technology to $52.00 and gave the company a “neutral” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $49.29.
Seagate Technology (STX) traded down $0.44 during trading on Tuesday, hitting $54.67. The company’s stock had a trading volume of 2,186,790 shares, compared to its average volume of 5,788,655. The company has a market cap of $15,940.00, a P/E ratio of 24.87, a P/E/G ratio of 0.78 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 1-year low of $30.60 and a 1-year high of $55.62.
In other news, insider Philip G. Brace sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 16,069 shares of the company’s stock, valued at approximately $777,739.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David H. Morton, Jr. sold 40,263 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $48.78, for a total value of $1,964,029.14. Following the sale, the chief financial officer now directly owns 65,824 shares in the company, valued at $3,210,894.72. The disclosure for this sale can be found here. Insiders sold a total of 183,120 shares of company stock valued at $8,660,988 over the last 90 days. 0.87% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of STX. Teachers Advisors LLC raised its holdings in shares of Seagate Technology by 4.0% during the 2nd quarter. Teachers Advisors LLC now owns 60,852 shares of the data storage provider’s stock worth $2,358,000 after acquiring an additional 2,325 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Seagate Technology by 53.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 74,937 shares of the data storage provider’s stock valued at $2,904,000 after buying an additional 26,097 shares during the period. PNC Financial Services Group Inc. raised its holdings in Seagate Technology by 2.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 24,808 shares of the data storage provider’s stock valued at $962,000 after buying an additional 617 shares during the period. Dimensional Fund Advisors LP raised its holdings in Seagate Technology by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,216,875 shares of the data storage provider’s stock valued at $47,156,000 after buying an additional 53,722 shares during the period. Finally, OxFORD Asset Management LLP purchased a new stake in Seagate Technology during the 2nd quarter valued at $2,375,000. 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.
