Benchmark Reiterates Hold Rating for Seagate Technology (NASDAQ:STX)

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

STX has been the topic of several other reports. Wedbush reissued a “neutral” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Wednesday. Barclays lowered their price target on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday. BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a report on Thursday, January 11th. Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Finally, TD Cowen boosted their price target on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued 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 target price of $94.53.

Seagate Technology Stock Up 0.2 %

Seagate Technology stock opened at $87.26 on Wednesday. The firm has a fifty day moving average of $89.28 and a 200-day moving average of $82.67. Seagate Technology has a 52-week low of $54.47 and a 52-week high of $101.26. The firm has a market capitalization of $18.28 billion, a P/E ratio of -67.64, a PEG ratio of 719.92 and a beta of 1.04.

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

Institutional Trading of Seagate Technology

Several institutional investors have recently made changes to their positions in the business. Capital Research Global Investors increased its position in shares of Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after purchasing an additional 4,685,454 shares in the last quarter. Norges Bank bought a new stake in Seagate Technology during the fourth quarter worth about $188,834,000. FMR LLC increased its holdings in shares of Seagate Technology by 13.1% during the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock worth $918,664,000 after buying an additional 1,612,264 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after acquiring an additional 1,485,937 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Seagate Technology by 24.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock worth $158,950,000 after acquiring an additional 470,592 shares in 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.