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

Seagate Technology (NASDAQ:STX) had its price objective reduced by Mizuho from $115.00 to $95.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the data storage provider’s stock. Mizuho’s price target indicates a potential upside of 35.42% from the company’s previous close.

Several other analysts also recently issued reports on STX. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Northland Securities reaffirmed an “outperform” rating and issued a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. The Goldman Sachs Group dropped their price objective on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Susquehanna increased their target price on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research note on Wednesday, January 22nd. Finally, Citigroup dropped their price target on Seagate Technology from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.17.

Seagate Technology Stock Performance

STX opened at $70.15 on Thursday. The firm has a market cap of $14.85 billion, a P/E ratio of 12.82 and a beta of 1.21. The business has a 50 day moving average price of $89.19 and a 200 day moving average price of $95.86. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $115.32.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the sale, the chief executive officer now owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Vest Financial LLC increased its holdings in shares of Seagate Technology by 43.7% during the first quarter. Vest Financial LLC now owns 7,112 shares of the data storage provider’s stock worth $604,000 after buying an additional 2,162 shares in the last quarter. Salvus Wealth Management LLC increased its holdings in Seagate Technology by 31.7% during the 1st quarter. Salvus Wealth Management LLC now owns 3,348 shares of the data storage provider’s stock valued at $284,000 after purchasing an additional 806 shares in the last quarter. Veracity Capital LLC raised its position in Seagate Technology by 12.5% in the 1st quarter. Veracity Capital LLC now owns 3,554 shares of the data storage provider’s stock valued at $302,000 after purchasing an additional 396 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Seagate Technology by 16.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 24,542 shares of the data storage provider’s stock worth $2,085,000 after purchasing an additional 3,410 shares in the last quarter. Finally, Kwmg LLC grew its holdings in shares of Seagate Technology by 1.5% during the first quarter. Kwmg LLC now owns 63,991 shares of the data storage provider’s stock worth $5,436,000 after purchasing an additional 957 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.