Seagate Technology (STX) Stock Rating Reaffirmed by Wells Fargo & Co
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.
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.
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