Seagate Technology (NASDAQ:STX) Price Target Increased to $96.00 by Analysts at The Goldman Sachs Group

Seagate Technology (NASDAQ:STX) had its target price raised by analysts at The Goldman Sachs Group from $84.00 to $96.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the data storage provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 10.02% from the company’s previous close.

Several other research analysts have also issued reports on the company. BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a research report on Thursday, January 11th. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Wednesday. Rosenblatt Securities lifted their price objective on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Wedbush reissued a “neutral” rating and issued a $100.00 price objective on shares of Seagate Technology in a research report on Wednesday. Finally, Robert W. Baird lifted their price objective on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.53.

Seagate Technology Stock Performance

Shares of STX stock opened at $87.26 on Wednesday. The stock’s fifty day moving average price is $89.28 and its two-hundred day moving average price is $82.67. The company has a market cap of $18.28 billion, a PE ratio of -67.64, a P/E/G ratio of 719.92 and a beta of 1.04. Seagate Technology has a fifty-two week low of $54.47 and a fifty-two week high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the business earned ($0.43) EPS. The company’s revenue was down 11.0% compared to the same quarter last year. On average, equities analysts predict that Seagate Technology will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Seagate Technology in the 4th quarter worth approximately $26,000. CVA Family Office LLC bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $28,000. Northwest Financial Advisors bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $31,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 205 shares during the period. 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.