Seagate Technology (NASDAQ:STX) Price Target Raised to $144.00 at Northland Securities

Seagate Technology (NASDAQ:STX) had its price objective increased by research analysts at Northland Securities from $142.00 to $144.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the data storage provider’s stock. Northland Securities’ price target would suggest a potential upside of 39.74% from the stock’s previous close.

Several other equities research analysts have also recently commented on STX. Robert W. Baird lifted their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wedbush increased their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital raised their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley raised their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $117.72.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded down $9.59 during trading on Wednesday, reaching $103.05. The company had a trading volume of 2,531,074 shares, compared to its average volume of 2,487,178. The firm’s fifty day moving average is $104.92 and its 200-day moving average is $99.52. Seagate Technology has a fifty-two week low of $64.12 and a fifty-two week high of $115.32. The company has a market cap of $21.69 billion, a price-to-earnings ratio of 67.43 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned ($0.34) EPS. The company’s revenue was up 49.1% compared to the same quarter last year. On average, research analysts anticipate that Seagate Technology will post 7.09 EPS for the current fiscal year.

Insider Activity at Seagate Technology

In related news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP John Christopher Morris sold 1,131 shares of Seagate Technology 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 completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,298 shares of company stock worth $22,814,576 in the last three months. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently modified their holdings of STX. Vanguard Group Inc. grew its holdings in shares of Seagate Technology by 3.1% during the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after buying an additional 746,395 shares during the last quarter. Delta Global Management LP purchased a new stake in shares of Seagate Technology during the 1st quarter valued at $33,478,000. Point72 Hong Kong Ltd purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at $35,349,000. Clearbridge Investments LLC raised its position in Seagate Technology by 14.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after purchasing an additional 337,464 shares during the period. Finally, Duquesne Family Office LLC raised its position in Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares during the period. 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.