Seagate Technology (NASDAQ:STX)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Wells Fargo & Co in a research report issued on Tuesday, The Fly reports. They currently have a $45.00 target price on the data storage provider’s stock, up from their prior target price of $38.00. Wells Fargo & Co’s target price would suggest a potential downside of 4.40% from the stock’s previous close.

Several other brokerages have also commented on STX. Cowen reissued a “hold” rating and set a $36.00 price objective on shares of Seagate Technology in a report on Friday, October 13th. BidaskClub lowered Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Jefferies Group set a $29.00 price objective on Seagate Technology and gave the stock a “hold” rating in a report on Sunday, October 15th. Mizuho reissued a “hold” rating and set a $36.00 price objective on shares of Seagate Technology in a report on Monday, October 9th. Finally, Barclays boosted their price objective on Seagate Technology from $29.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $43.15.

Seagate Technology (NASDAQ:STX) opened at $47.07 on Tuesday. Seagate Technology has a twelve month low of $30.60 and a twelve month high of $50.96. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. The company has a market capitalization of $13,620.00, a PE ratio of 17.83, a PEG ratio of 0.57 and a beta of 1.68.

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

In other Seagate Technology news, CFO David H. Morton, Jr. sold 7,909 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total value of $316,360.00. Following the completion of the sale, the chief financial officer now owns 25,561 shares in the company, valued at $1,022,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey D. Nygaard acquired 5,000 shares of the stock in a transaction on Friday, October 27th. The stock was bought at an average price of $37.38 per share, with a total value of $186,900.00. The disclosure for this purchase can be found here. Insiders sold 194,744 shares of company stock valued at $9,075,320 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Seagate Technology by 7.4% during the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after buying an additional 2,292,075 shares during the period. ValueAct Holdings L.P. increased 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 buying an additional 7,642,835 shares during the period. BlackRock Inc. increased its stake in shares of Seagate Technology by 1.4% during the second quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock valued at $720,459,000 after buying an additional 256,005 shares during the period. APG Asset Management N.V. increased its stake in shares of Seagate Technology by 4.2% during the third quarter. APG Asset Management N.V. now owns 3,392,370 shares of the data storage provider’s stock valued at $112,525,000 after buying an additional 135,300 shares during the period. Finally, First Trust Advisors LP increased 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 buying an additional 674,442 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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