Seagate Technology (NASDAQ:STX) Price Target Raised to $320.00 at Citigroup

Seagate Technology (NASDAQ:STX) had its price target upped by equities researchers at Citigroup from $275.00 to $320.00 in a research note issued on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the data storage provider’s stock. Citigroup’s price target suggests a potential upside of 15.33% from the stock’s previous close.

STX has been the subject of several other reports. Robert W. Baird increased their price target on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. BNP Paribas Exane dropped their price objective on Seagate Technology from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Wells Fargo & Company raised their target price on shares of Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Loop Capital increased their price target on shares of Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $285.45.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $277.47 on Tuesday. The company’s 50-day moving average price is $245.82 and its two-hundred day moving average price is $184.24. Seagate Technology has a one year low of $63.19 and a one year high of $297.88. The stock has a market capitalization of $59.26 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $262.82, for a total transaction of $5,256,400.00. Following the completion of the sale, the chief executive officer owned 465,668 shares of the company’s stock, valued at approximately $122,386,863.76. The trade was a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the completion of the transaction, the executive vice president directly owned 12,041 shares in the company, valued at approximately $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 131,261 shares of company stock worth $34,210,708 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

Several institutional investors have recently added to or reduced their stakes in STX. Vision Financial Markets LLC bought a new position in shares of Seagate Technology in the second quarter worth $173,000. Nordea Investment Management AB grew its stake in Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock worth $2,632,000 after buying an additional 2,808 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd increased its holdings in Seagate Technology by 185.8% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after buying an additional 12,178 shares during the period. Retirement Planning Co of New England Inc. acquired a new position in shares of Seagate Technology in the 1st quarter valued at approximately $272,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Seagate Technology by 21.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider’s stock valued at $8,886,000 after buying an additional 10,847 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.