Seagate Technology (NASDAQ:STX) PT Raised to $96.00

Seagate Technology (NASDAQ:STX) had its price objective upped by investment analysts at The Goldman Sachs Group from $84.00 to $96.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the data storage provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 10.02% from the company’s current price.

A number of other analysts have also issued reports on STX. BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target on the stock. in a research note on Thursday, January 11th. Evercore ISI initiated coverage on shares of Seagate Technology in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 target price on the stock. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Wednesday. Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.53.

Seagate Technology Price Performance

Seagate Technology stock opened at $87.26 on Wednesday. The firm’s 50-day moving average is $89.28 and its two-hundred day moving average is $82.67. The stock has a market capitalization of $18.28 billion, a P/E ratio of -67.64, a P/E/G ratio of 719.92 and a beta of 1.04. Seagate Technology has a 12-month low of $54.47 and a 12-month high of $101.26.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STX. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Seagate Technology during the 4th quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in shares of Seagate Technology in the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Seagate Technology in the fourth quarter valued at $28,000. Northwest Financial Advisors bought a new position in Seagate Technology during the 4th quarter valued at $31,000. Finally, Parkside Financial Bank & Trust grew its holdings in Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 205 shares in the last quarter. 92.87% of the stock is 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.