Seagate Technology (NASDAQ:STX) Rating Increased to Buy at StockNews.com

Seagate Technology (NASDAQ:STX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

STX has been the subject of several other reports. Mizuho decreased their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Susquehanna raised their target price on Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research report on Wednesday, January 22nd. Northland Securities reiterated an “outperform” rating and issued a $160.00 price target (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded down $4.71 on Monday, hitting $103.48. The stock had a trading volume of 4,187,671 shares, compared to its average volume of 3,839,854. The stock has a 50 day moving average of $95.00 and a 200 day moving average of $100.35. The firm has a market capitalization of $21.89 billion, a P/E ratio of 18.92 and a beta of 1.06. Seagate Technology has a twelve month low of $82.31 and a twelve month high of $115.32.

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,073 shares of company stock valued at $5,106,149. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors have recently bought and sold shares of STX. Ashton Thomas Securities LLC bought a new position in Seagate Technology during the 3rd quarter valued at $26,000. Quarry LP bought a new position in shares of Seagate Technology during the second quarter valued at about $27,000. Advisors Asset Management Inc. boosted its holdings in Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares during the last quarter. JFS Wealth Advisors LLC grew its position in Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Seagate Technology in the 3rd quarter valued at about $53,000. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.