Seagate Technology (NASDAQ:STX) Stock Rating Reaffirmed by Cantor Fitzgerald

Seagate Technology (NASDAQ:STX)‘s stock had its “neutral” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $125.00 target price on the data storage provider’s stock. Cantor Fitzgerald’s target price points to a potential upside of 20.22% from the company’s previous close.

Several other research firms have also issued reports on STX. Barclays increased their target price on shares of Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. UBS Group raised their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Susquehanna raised their price target on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Finally, Loop Capital upped their price objective on Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and an average target price of $118.83.

Seagate Technology Trading Up 0.4 %

STX opened at $103.98 on Wednesday. Seagate Technology has a 12-month low of $64.12 and a 12-month high of $115.32. The company has a market cap of $21.83 billion, a price-to-earnings ratio of -80.60 and a beta of 1.04. The company’s 50 day moving average is $105.13 and its 200 day moving average is $99.58.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion during 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%. Seagate Technology’s revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) EPS. As a group, analysts predict that Seagate Technology will post 7.09 EPS for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In related news, SVP John Christopher Morris sold 1,131 shares of Seagate Technology 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 directly owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Ban Seng Teh sold 4,872 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the sale, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was 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 directly owns 7,191 shares in the company, valued at $804,672.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,398 shares of company stock worth $23,238,106 over the last quarter. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

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

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.