Seagate Technology (NASDAQ:STX) Rating Increased to Buy at StockNews.com

Seagate Technology (NASDAQ:STX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

A number of other analysts also recently weighed in on the company. Citigroup upped their target price on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Bank of America upped their price objective on shares of Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and issued a $160.00 target price (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Evercore ISI upped their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, UBS Group increased their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Trading Down 3.1 %

Shares of STX stock opened at $100.27 on Monday. The stock has a market cap of $21.21 billion, a P/E ratio of 18.33 and a beta of 1.06. Seagate Technology has a 1 year low of $82.31 and a 1 year high of $115.32. The stock has a 50 day simple moving average of $95.17 and a 200 day simple moving average of $100.28.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the sale, the chief executive officer now directly owns 642,497 shares of the company’s stock, valued at approximately $63,947,726.41. This represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,073 shares of company stock worth $5,106,149. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently made changes to their positions in STX. Sanders Capital LLC lifted its stake in Seagate Technology by 0.9% in the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after buying an additional 150,115 shares during the period. State Street Corp lifted its position in shares of Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after acquiring an additional 541,585 shares during the period. Geode Capital Management LLC boosted its stake in Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after acquiring an additional 318,416 shares in the last quarter. Franklin Resources Inc. grew its holdings in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after purchasing an additional 405,232 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Seagate Technology by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock valued at $145,447,000 after purchasing an additional 73,267 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.