Seagate Technology (NASDAQ:STX) Earns Hold Rating from Benchmark

Seagate Technology (NASDAQ:STX)‘s stock had its “hold” rating reaffirmed by investment analysts at Benchmark in a research note issued on Wednesday, Benzinga reports.

Several other research firms have also commented on STX. Rosenblatt Securities increased their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Barclays increased their target price on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Susquehanna increased their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Hold” and an average price target of $118.83.

Seagate Technology Stock Performance

Seagate Technology stock opened at $103.98 on Wednesday. The firm’s fifty day moving average price is $105.13 and its 200-day moving average price is $99.58. The stock has a market cap of $21.83 billion, a P/E ratio of -80.60 and a beta of 1.04. Seagate Technology has a fifty-two week low of $64.12 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 30.18%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. On average, analysts predict that Seagate Technology will post 7.09 earnings per share for the current year.

Insider Transactions at Seagate Technology

In related news, Director Jay L. Geldmacher sold 4,100 shares of Seagate Technology stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $103.30, for a total transaction of $423,530.00. Following the completion of the transaction, the director now directly owns 2,852 shares of the company’s stock, valued at $294,611.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jay L. Geldmacher sold 4,100 shares of Seagate Technology stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $103.30, for a total transaction of $423,530.00. Following the transaction, the director now directly owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,398 shares of company stock valued at $23,238,106. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in Seagate Technology in the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the last quarter. Family Firm Inc. purchased a new position in Seagate Technology in the second quarter worth about $41,000. Larson Financial Group LLC raised its holdings in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after buying an additional 473 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in Seagate Technology in the third quarter worth about $55,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

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.