Seagate Technology (NASDAQ:STX) Upgraded to “Buy” at StockNews.com

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

STX has been the topic of several other reports. UBS Group increased their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Morgan Stanley dropped their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Rosenblatt Securities upped their price objective on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group dropped their price objective on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Bank of America upped their target price on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Stock Up 1.2 %

Seagate Technology stock opened at $96.54 on Wednesday. The firm’s 50-day simple moving average is $94.71 and its 200 day simple moving average is $99.92. Seagate Technology has a 52 week low of $82.31 and a 52 week high of $115.32. The firm has a market capitalization of $20.44 billion, a PE ratio of 17.65 and a beta of 1.07.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the completion of the sale, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the transaction, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,891 shares of company stock worth $2,146,848. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently modified their holdings of STX. Point72 Asset Management L.P. acquired a new stake in shares of Seagate Technology during the third quarter worth approximately $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock valued at $143,370,000 after acquiring an additional 1,012,638 shares in the last quarter. State Street Corp boosted its stake in 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 last quarter. National Pension Service bought a new stake in shares of Seagate Technology in the 4th quarter worth about $43,436,000. Finally, Los Angeles Capital Management LLC increased its position in shares of Seagate Technology by 176.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider’s stock worth $64,007,000 after purchasing an additional 473,484 shares during the last quarter. Institutional investors and hedge funds own 92.87% 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.