Seagate Technology (NASDAQ:STX – Get Rating) had its target price lifted by equities researchers at The Goldman Sachs Group from $61.00 to $68.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the data storage provider’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 1.46% from the stock’s previous close.
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STX has been the topic of several other reports. Susquehanna decreased their price target on Seagate Technology from $40.00 to $38.00 in a research report on Thursday, October 27th. Susquehanna Bancshares decreased their price target on Seagate Technology from $40.00 to $38.00 in a research report on Thursday, October 27th. Credit Suisse Group upped their price objective on shares of Seagate Technology from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday. Loop Capital upped their price objective on shares of Seagate Technology from $70.00 to $80.00 in a research report on Thursday. Finally, Northland Securities increased their price target on shares of Seagate Technology from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.20.
Seagate Technology Price Performance
NASDAQ STX opened at $69.01 on Friday. The company has a market cap of $14.25 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 40.64 and a beta of 1.06. Seagate Technology has a 52 week low of $47.47 and a 52 week high of $117.03. The company has a quick ratio of 0.68, a current ratio of 1.19 and a debt-to-equity ratio of 46.44. The firm’s 50-day simple moving average is $54.73 and its two-hundred day simple moving average is $61.67.
Seagate Technology (NASDAQ:STX – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The data storage provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. Seagate Technology had a return on equity of 1,257.13% and a net margin of 6.61%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business posted $2.28 earnings per share. The company’s revenue was down 39.4% on a year-over-year basis. Research analysts predict that Seagate Technology will post 1.27 earnings per share for the current year.
Institutional Investors Weigh In On Seagate Technology
A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in Seagate Technology by 10.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,358,118 shares of the data storage provider’s stock worth $1,025,744,000 after acquiring an additional 1,400,931 shares in the last quarter. State Street Corp grew its position in Seagate Technology by 16.3% during the 3rd quarter. State Street Corp now owns 8,951,455 shares of the data storage provider’s stock worth $482,736,000 after purchasing an additional 1,256,349 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Seagate Technology during the 2nd quarter worth $83,163,000. FMR LLC grew its position in Seagate Technology by 14.5% during the 2nd quarter. FMR LLC now owns 8,827,629 shares of the data storage provider’s stock worth $630,645,000 after purchasing an additional 1,118,373 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in Seagate Technology during the 3rd quarter worth $58,716,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.
About Seagate Technology
Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.
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