A number of other research firms also recently weighed in on STX. Cowen reiterated a “market perform” rating and set a $40.00 target price (down from $47.00) on shares of Seagate Technology in a research report on Monday, August 5th. Benchmark restated a “buy” rating and set a $55.00 price objective (down from $57.00) on shares of Seagate Technology in a research report on Monday, August 5th. Barclays initiated coverage on Seagate Technology in a research report on Wednesday, August 7th. They set an “underweight” rating and a $37.00 price objective for the company. Wedbush initiated coverage on Seagate Technology in a research report on Wednesday, June 26th. They set a “neutral” rating and a $35.00 price objective for the company. They noted that the move was a valuation call. Finally, Goldman Sachs Group set a $37.00 price objective on Seagate Technology and gave the stock a “sell” rating in a research report on Sunday, July 21st. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $45.60.
Shares of NASDAQ:STX traded up $0.09 during trading on Tuesday, reaching $56.30. 3,014,089 shares of the company traded hands, compared to its average volume of 3,119,879. The company’s 50 day moving average is $47.99 and its two-hundred day moving average is $47.05. The firm has a market capitalization of $14.74 billion, a PE ratio of 11.68, a PEG ratio of 10.52 and a beta of 1.65. The company has a quick ratio of 1.52, a current ratio of 1.95 and a debt-to-equity ratio of 1.97. Seagate Technology has a 52 week low of $35.38 and a 52 week high of $57.01.
In other news, CEO William D. Mosley sold 90,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $54.31, for a total value of $4,887,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen J. Luczo sold 10,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $47.00, for a total value of $470,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,000 shares of company stock valued at $6,538,050. Insiders own 1.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Redwood Investment Management LLC raised its position in Seagate Technology by 41.4% during the first quarter. Redwood Investment Management LLC now owns 26,569 shares of the data storage provider’s stock worth $1,272,000 after acquiring an additional 7,784 shares during the last quarter. CWM Advisors LLC increased its stake in Seagate Technology by 11.2% during the second quarter. CWM Advisors LLC now owns 17,123 shares of the data storage provider’s stock valued at $807,000 after purchasing an additional 1,729 shares during the last quarter. Buckingham Asset Management LLC increased its stake in Seagate Technology by 80.4% during the second quarter. Buckingham Asset Management LLC now owns 10,316 shares of the data storage provider’s stock valued at $486,000 after purchasing an additional 4,598 shares during the last quarter. Horizon Investments LLC bought a new stake in Seagate Technology during the first quarter valued at $287,000. Finally, Advisory Services Network LLC increased its stake in Seagate Technology by 13.5% during the second quarter. Advisory Services Network LLC now owns 16,021 shares of the data storage provider’s stock valued at $755,000 after purchasing an additional 1,903 shares during the last quarter. 83.74% of the stock is owned by institutional investors.
Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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