Seagate Technology (NASDAQ:STX) Price Target Increased to $135.00 by Analysts at Evercore ISI

Seagate Technology (NASDAQ:STX) had its price target boosted by equities research analysts at Evercore ISI from $125.00 to $135.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the data storage provider’s stock. Evercore ISI’s target price indicates a potential upside of 29.83% from the stock’s current price.

STX has been the subject of a number of other research reports. Wedbush lifted their price objective on shares of Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. TD Cowen lifted their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lifted their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Northland Securities lifted their target price on shares of Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $118.83.

Seagate Technology Stock Performance

STX opened at $103.98 on Wednesday. Seagate Technology has a fifty-two week low of $64.12 and a fifty-two week high of $115.32. The company has a fifty day moving average of $105.13 and a two-hundred day moving average of $99.58. The stock has a market capitalization of $21.83 billion, a price-to-earnings ratio of -80.60 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 30.18%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, equities research analysts forecast that Seagate Technology will post 7.09 earnings per share for the current year.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the sale, the chief executive officer now directly owns 654,270 shares in the company, valued at $61,148,074.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,398 shares of company stock valued at $23,238,106 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its stake in Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after buying an additional 89 shares during the period. CWM LLC increased its stake in Seagate Technology by 3.0% during the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after buying an additional 97 shares during the period. Affinity Capital Advisors LLC increased its stake in Seagate Technology by 1.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after buying an additional 100 shares during the period. Csenge Advisory Group increased its stake in Seagate Technology by 1.4% during the 1st quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after buying an additional 119 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its stake in Seagate Technology by 3.7% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after buying an additional 122 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.