Seagate Technology (NASDAQ:STX) Given New $80.00 Price Target at Barclays

Seagate Technology (NASDAQ:STX) had its price target reduced by Barclays from $105.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the data storage provider’s stock.

A number of other equities analysts also recently commented on STX. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Mizuho dropped their target price on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. UBS Group boosted 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. Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, January 22nd. Finally, Citigroup reduced their target price on Seagate Technology from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $117.39.

Seagate Technology Price Performance

NASDAQ STX opened at $75.36 on Tuesday. The business’s 50-day moving average is $85.87 and its 200 day moving average is $94.17. The stock has a market capitalization of $15.95 billion, a PE ratio of 13.78 and a beta of 1.21. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $115.32.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the sale, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently bought and sold shares of STX. Capital Research Global Investors grew its stake in shares of Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock worth $1,348,262,000 after acquiring an additional 5,640,443 shares during the period. Vanguard Group Inc. grew its position in Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the period. Marshall Wace LLP purchased a new stake in Seagate Technology during the 4th quarter valued at $77,341,000. Junto Capital Management LP bought a new position in shares of Seagate Technology during the 4th quarter valued at $60,303,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Seagate Technology by 2,853.4% in the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider’s stock worth $57,925,000 after buying an additional 648,257 shares during the last quarter. Hedge funds and other 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.