Seagate Technology (NASDAQ:STX) Price Target Increased to $67.00 by Analysts at Susquehanna

Seagate Technology (NASDAQ:STXGet Rating) had its price target raised by investment analysts at Susquehanna from $65.00 to $67.00 in a research report issued on Thursday, The Fly reports. Susquehanna’s price target would suggest a potential downside of 17.94% from the company’s previous close.

Other research analysts also recently issued reports about the company. Barclays reduced their price objective on Seagate Technology from $100.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday. Summit Redstone raised Seagate Technology to a “buy” rating in a research note on Thursday, January 27th. Stifel Nicolaus upped their target price on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 27th. Argus upped their target price on Seagate Technology from $105.00 to $130.00 in a report on Friday, January 28th. Finally, Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, January 27th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Seagate Technology 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 company has a debt-to-equity ratio of 10.70, a current ratio of 1.49 and a quick ratio of 1.06. The company has a market cap of $17.87 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 8.60 and a beta of 1.00. The stock has a 50 day simple moving average of $91.81 and a 200-day simple moving average of $98.60. Seagate Technology has a 1-year low of $78.20 and a 1-year high of $117.67.

Seagate Technology (NASDAQ:STXGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The data storage provider reported $1.81 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the company earned $1.36 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Seagate Technology will post 8.09 earnings per share for the current fiscal year.

In other Seagate Technology news, Director Stephen J. Luczo sold 50,000 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $103.26, for a total value of $5,163,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Holdings L.P. Valueact sold 272,297 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $108.01, for a total value of $29,410,798.97. The disclosure for this sale can be found here. Insiders have sold a total of 2,076,597 shares of company stock valued at $224,036,049 over the last 90 days. 0.81% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. FSB Premier Wealth Management Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth about $26,000. Tyler Stone Wealth Management acquired a new stake in shares of Seagate Technology during the 4th quarter worth about $28,000. Chilton Capital Management LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth about $33,000. TCTC Holdings LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth about $34,000. Finally, Key Financial Inc acquired a new stake in shares of Seagate Technology during the 1st quarter worth about $36,000. 81.67% of the stock is currently 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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