Seagate Technology (NASDAQ:STX) Rating Reiterated by Cantor Fitzgerald

Seagate Technology (NASDAQ:STX)‘s stock had its “neutral” rating reissued by research analysts at Cantor Fitzgerald in a research note issued on Wednesday, Benzinga reports. They currently have a $125.00 price objective on the data storage provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 20.22% from the company’s current price.

A number of other brokerages have also issued reports on STX. Evercore ISI upped their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup raised their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Barclays lifted their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $118.83.

Seagate Technology Trading Up 0.4 %

NASDAQ STX opened at $103.98 on Wednesday. The firm’s fifty day simple moving average is $105.13 and its two-hundred day simple moving average is $99.58. The firm has a market capitalization of $21.83 billion, a P/E ratio of -80.60 and a beta of 1.04. Seagate Technology has a 12-month low of $64.12 and a 12-month high of $115.32.

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

Insider Buying and Selling at Seagate Technology

In related news, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the transaction, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,398 shares of company stock valued at $23,238,106 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its position in Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after buying an additional 89 shares in the last quarter. CWM LLC raised its holdings in shares of Seagate Technology by 3.0% during the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after acquiring an additional 97 shares during the period. Affinity Capital Advisors LLC boosted its position in shares of Seagate Technology by 1.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock valued at $725,000 after acquiring an additional 100 shares during the last quarter. Csenge Advisory Group grew its holdings in shares of Seagate Technology by 1.4% in the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock valued at $788,000 after purchasing an additional 119 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its position in Seagate Technology by 3.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after purchasing an additional 122 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.