Seagate Technology (NASDAQ:STX) Price Target Raised to $100.00

Seagate Technology (NASDAQ:STX) had its target price raised by research analysts at Cantor Fitzgerald from $95.00 to $100.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the data storage provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 15.57% from the stock’s previous close.

A number of other research analysts have also recently commented on STX. Rosenblatt Securities upped their price target on Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Mizuho reaffirmed a “buy” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Tuesday, April 9th. The Goldman Sachs Group upped their price target on Seagate Technology from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $73.00 to $115.00 in a research report on Tuesday, March 26th. Finally, Susquehanna boosted their price objective on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Hold” and an average price target of $92.07.

Seagate Technology Trading Up 1.6 %

STX stock opened at $86.53 on Wednesday. The stock’s fifty day simple moving average is $89.29 and its two-hundred day simple moving average is $82.61. Seagate Technology has a 1-year low of $54.47 and a 1-year high of $101.26. The stock has a market cap of $18.13 billion, a P/E ratio of -24.72, a P/E/G ratio of 703.97 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the firm posted ($0.43) EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, analysts forecast that Seagate Technology will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC increased its position in shares of Seagate Technology by 8.6% during the 1st quarter. Global Retirement Partners LLC now owns 1,735 shares of the data storage provider’s stock valued at $161,000 after purchasing an additional 138 shares during the last quarter. Stablepoint Partners LLC boosted its holdings in Seagate Technology by 8.1% during the 1st quarter. Stablepoint Partners LLC now owns 59,132 shares of the data storage provider’s stock valued at $5,502,000 after acquiring an additional 4,449 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Seagate Technology by 68.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 137,213 shares of the data storage provider’s stock valued at $12,768,000 after acquiring an additional 55,586 shares during the period. PFG Investments LLC purchased a new stake in Seagate Technology during the 1st quarter valued at about $511,000. Finally, First Trust Direct Indexing L.P. boosted its holdings in Seagate Technology by 6.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,894 shares of the data storage provider’s stock valued at $548,000 after acquiring an additional 339 shares during the period. 92.87% of the stock is currently owned by institutional investors.

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.