Mizuho Lowers Seagate Technology (NASDAQ:STX) Price Target to $95.00

Seagate Technology (NASDAQ:STXGet Rating) had its target price reduced by investment analysts at Mizuho from $105.00 to $95.00 in a research note issued to investors on Thursday, The Fly reports. Mizuho’s price objective suggests a potential upside of 16.35% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus lifted their price objective on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 27th. Susquehanna Bancshares restated a “hold” rating and issued a $93.00 price objective on shares of Seagate Technology in a report on Tuesday, January 25th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Seagate Technology from $110.00 to $95.00 and set a “hold” rating on the stock in a report on Tuesday, April 19th. Citigroup increased their target price on shares of Seagate Technology from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 27th. Finally, Wells Fargo & Company lowered their price objective on shares of Seagate Technology from $110.00 to $90.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 19th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $104.17.

Shares of STX stock opened at $81.65 on Thursday. The stock’s 50 day simple moving average is $91.81 and its 200 day simple moving average is $98.60. The company has a debt-to-equity ratio of 10.70, a quick ratio of 1.06 and a current ratio of 1.49. Seagate Technology has a twelve month low of $78.20 and a twelve month high of $117.67. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 8.60 and a beta of 1.00.

Seagate Technology (NASDAQ:STXGet Rating) last released its earnings results on Wednesday, April 27th. The data storage provider reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.07. Seagate Technology had a return on equity of 322.33% and a net margin of 15.35%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm posted $1.36 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that Seagate Technology will post 8.09 EPS for the current fiscal year.

In other news, Director Stephen J. Luczo sold 50,000 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $103.26, for a total transaction of $5,163,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jay L. Geldmacher sold 4,300 shares of the company’s stock in a transaction dated Monday, January 31st. The stock was sold at an average price of $107.50, for a total transaction of $462,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,076,597 shares of company stock worth $224,036,049. 0.81% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in STX. Gateway Advisory LLC grew its holdings in Seagate Technology by 2.6% during the 4th quarter. Gateway Advisory LLC now owns 3,588 shares of the data storage provider’s stock valued at $405,000 after buying an additional 92 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in Seagate Technology by 2.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,845 shares of the data storage provider’s stock worth $434,000 after buying an additional 94 shares during the last quarter. Marcum Wealth LLC increased its stake in Seagate Technology by 3.7% in the third quarter. Marcum Wealth LLC now owns 2,919 shares of the data storage provider’s stock worth $241,000 after purchasing an additional 104 shares during the period. Old North State Trust LLC increased its stake in Seagate Technology by 43.0% in the fourth quarter. Old North State Trust LLC now owns 426 shares of the data storage provider’s stock worth $48,000 after purchasing an additional 128 shares during the period. Finally, Carroll Financial Associates Inc. increased its stake in Seagate Technology by 41.1% in the fourth quarter. Carroll Financial Associates Inc. now owns 446 shares of the data storage provider’s stock worth $50,000 after purchasing an additional 130 shares during the period. 81.67% of the stock is owned by institutional investors.

Seagate Technology Company Profile (Get Rating)

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

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