Seagate Technology (NASDAQ:STX) Price Target Lowered to $112.00 at Bank of America

Seagate Technology (NASDAQ:STX) had its price target reduced by equities researchers at Bank of America from $130.00 to $112.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the data storage provider’s stock. Bank of America‘s price objective would suggest a potential upside of 27.42% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Citigroup increased their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. UBS Group increased their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $120.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.56.

Seagate Technology Stock Up 2.7 %

Shares of NASDAQ:STX opened at $87.90 on Thursday. The firm’s 50 day moving average price is $96.32 and its 200-day moving average price is $99.12. Seagate Technology has a twelve month low of $82.31 and a twelve month high of $115.32. The stock has a market capitalization of $18.61 billion, a PE ratio of 16.07 and a beta of 1.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Berkshire Bank boosted its stake in Seagate Technology by 2.6% during the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock worth $355,000 after buying an additional 103 shares during the period. MWA Asset Management lifted its position in shares of Seagate Technology by 0.5% during the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock worth $1,695,000 after purchasing an additional 104 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of Seagate Technology by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 112 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 113 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Seagate Technology by 2.3% during the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider’s stock worth $431,000 after purchasing an additional 113 shares during the last quarter. 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.