Seagate Technology (NASDAQ:STX) had its price objective boosted by equities research analysts at Cowen from $39.00 to $47.00 in a report issued on Tuesday. The brokerage presently has a “market perform” rating on the data storage provider’s stock. Cowen’s price objective would suggest a potential upside of 2.17% from the stock’s current price.

Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 12th. ValuEngine raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Craig Hallum raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, October 26th. Finally, Vetr lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 price target for the company. in a research report on Tuesday, October 31st. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $42.22.

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 52-week low of $30.60 and a 52-week high of $50.96.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.10. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. sell-side analysts forecast that Seagate Technology will post 4 EPS for the current fiscal year.

In other news, insider Jeffrey D. Nygaard acquired 5,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were purchased at an average cost of $37.38 per share, with a total value of $186,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Morton, Jr. sold 7,909 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $40.00, for a total transaction of $316,360.00. Following the sale, the chief financial officer now directly owns 25,561 shares in the company, valued at $1,022,440. The disclosure for this sale can be found here. Insiders have sold 42,481 shares of company stock worth $1,655,011 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 the company. Cacti Asset Management LLC grew its stake in shares of Seagate Technology by 0.8% during the fourth quarter. Cacti Asset Management LLC now owns 419,614 shares of the data storage provider’s stock valued at $17,557,000 after purchasing an additional 3,225 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Seagate Technology by 7.5% during the third quarter. Parametric Portfolio Associates LLC now owns 1,504,787 shares of the data storage provider’s stock valued at $49,914,000 after purchasing an additional 105,257 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $504,000. Yellowstone Partners LLC bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $2,166,000. Finally, Balentine LLC grew its stake in shares of Seagate Technology by 56.8% during the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after purchasing an additional 1,619 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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