Seagate Technology (NASDAQ:STX – Get Rating) had its target price dropped by equities research analysts at Mizuho from $72.00 to $69.00 in a report released on Wednesday, The Fly reports. Mizuho’s price objective suggests a potential upside of 10.26% from the stock’s previous close.
STX has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Seagate Technology from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, April 21st. Wedbush restated a “neutral” rating and set a $55.00 target price on shares of Seagate Technology in a research report on Friday, April 14th. TD Cowen dropped their target price on shares of Seagate Technology from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, April 21st. Barclays dropped their target price on shares of Seagate Technology from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 21st. Finally, Evercore ISI lowered their price objective on shares of Seagate Technology from $70.00 to $65.00 and set an “inline” rating for the company in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.88.
Seagate Technology Trading Down 2.7 %
Shares of STX stock opened at $62.58 on Wednesday. The company has a 50 day simple moving average of $60.63 and a two-hundred day simple moving average of $60.92. The stock has a market cap of $12.92 billion, a P/E ratio of -74.50 and a beta of 1.09. Seagate Technology has a 12 month low of $47.47 and a 12 month high of $83.78.
Seagate Technology (NASDAQ:STX – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The data storage provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.49). The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 1.91%. The business’s revenue for the quarter was down 33.6% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. As a group, equities analysts forecast that Seagate Technology will post -0.34 earnings per share for the current year.
Insider Buying and Selling
In other Seagate Technology news, SVP Katherine Schuelke sold 3,487 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $62.09, for a total transaction of $216,507.83. Following the transaction, the senior vice president now owns 28,658 shares of the company’s stock, valued at approximately $1,779,375.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Clear Street Markets LLC boosted its holdings in shares of Seagate Technology by 18.2% in the 1st quarter. Clear Street Markets LLC now owns 1,175 shares of the data storage provider’s stock valued at $78,000 after buying an additional 181 shares in the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of Seagate Technology by 13.3% in the 1st quarter. Ronald Blue Trust Inc. now owns 1,637 shares of the data storage provider’s stock valued at $86,000 after buying an additional 192 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Seagate Technology by 3.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,374 shares of the data storage provider’s stock worth $283,000 after purchasing an additional 200 shares in the last quarter. SPC Financial Inc. boosted its stake in Seagate Technology by 5.1% in the 4th quarter. SPC Financial Inc. now owns 4,650 shares of the data storage provider’s stock worth $245,000 after purchasing an additional 225 shares in the last quarter. Finally, Creative Planning boosted its stake in Seagate Technology by 0.6% in the 4th quarter. Creative Planning now owns 36,783 shares of the data storage provider’s stock worth $1,935,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.
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.