Seagate Technology (NASDAQ:STX) Price Target Raised to $100.00 at Cantor Fitzgerald

Seagate Technology (NASDAQ:STX) had its target price raised by analysts at Cantor Fitzgerald from $95.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the data storage provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 14.60% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on STX. Evercore ISI began coverage on Seagate Technology in a report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price objective for the company. The Goldman Sachs Group increased their price objective on Seagate Technology from $65.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Mizuho reiterated a “buy” rating and issued a $100.00 price objective on shares of Seagate Technology in a report on Tuesday, April 9th. Wells Fargo & Company raised their target price on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Finally, Wedbush restated a “neutral” rating and issued a $100.00 target price on shares of Seagate Technology in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Hold” and an average target price of $94.53.

Seagate Technology Price Performance

Shares of STX stock opened at $87.26 on Wednesday. The stock has a market capitalization 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 1-year low of $54.47 and a 1-year high of $101.26. The business has a 50-day moving average of $89.28 and a 200 day moving average of $82.67.

Seagate Technology (NASDAQ:STX) last issued its earnings results 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 company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company earned ($0.43) earnings per share. The company’s revenue was down 11.0% compared to the same quarter last year. Analysts anticipate that Seagate Technology will post 0.1 EPS for the current year.

Institutional Trading of Seagate Technology

A number of institutional investors and hedge funds have recently modified their holdings of STX. CWM LLC increased its holdings in shares of Seagate Technology by 6.0% in the 3rd quarter. CWM LLC now owns 3,311 shares of the data storage provider’s stock worth $218,000 after purchasing an additional 187 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Seagate Technology by 4.9% in the 3rd quarter. IFP Advisors Inc now owns 3,542 shares of the data storage provider’s stock worth $234,000 after purchasing an additional 164 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Seagate Technology by 23.4% in the 3rd quarter. Global Retirement Partners LLC now owns 2,212 shares of the data storage provider’s stock worth $146,000 after purchasing an additional 419 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Seagate Technology by 23.2% in the 3rd quarter. SG Americas Securities LLC now owns 21,613 shares of the data storage provider’s stock worth $1,425,000 after buying an additional 4,075 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of Seagate Technology by 47.8% in the 3rd quarter. Czech National Bank now owns 33,711 shares of the data storage provider’s stock worth $2,223,000 after buying an additional 10,910 shares during the last quarter. 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.