Barclays Cuts Seagate Technology (NASDAQ:STX) Price Target to $80.00

Seagate Technology (NASDAQ:STX) had its price target reduced by Barclays from $105.00 to $80.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the data storage provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Mizuho decreased their price target on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company cut their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Citigroup decreased their target price on Seagate Technology from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, UBS Group lifted their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.39.

Seagate Technology Stock Up 6.3 %

NASDAQ:STX opened at $83.04 on Tuesday. The stock has a market cap of $17.58 billion, a PE ratio of 15.18 and a beta of 1.21. The business’s 50-day simple moving average is $85.03 and its two-hundred day simple moving average is $93.90. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $115.32.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. World Investment Advisors LLC purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at $217,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Seagate Technology during the third quarter worth about $54,000. Optimist Retirement Group LLC acquired a new position in shares of Seagate Technology during the third quarter valued at about $249,000. Tidal Investments LLC raised its position in shares of Seagate Technology by 21.3% in the 3rd quarter. Tidal Investments LLC now owns 5,441 shares of the data storage provider’s stock valued at $596,000 after purchasing an additional 956 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in Seagate Technology by 36.6% in the 3rd quarter. Synovus Financial Corp now owns 4,054 shares of the data storage provider’s stock worth $444,000 after purchasing an additional 1,087 shares in 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.