Seagate Technology (NASDAQ:STX) Price Target Cut to $115.00 by Analysts at Citigroup

Seagate Technology (NASDAQ:STX) had its price objective decreased by analysts at Citigroup from $125.00 to $115.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the data storage provider’s stock. Citigroup’s price target would suggest a potential upside of 29.32% from the stock’s previous close.

A number of other equities analysts have also commented on STX. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Northland Securities reaffirmed an “outperform” rating and issued a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Barclays boosted their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Finally, UBS Group increased their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Seagate Technology Trading Up 0.3 %

NASDAQ:STX opened at $88.93 on Tuesday. The firm has a market capitalization of $18.83 billion, a PE ratio of 16.26 and a beta of 1.01. Seagate Technology has a 1 year low of $82.31 and a 1 year high of $115.32. The firm’s fifty day simple moving average is $96.34 and its 200 day simple moving average is $98.92.

Institutional Trading of Seagate Technology

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock valued at $2,414,446,000 after buying an additional 1,814,821 shares during the last quarter. Sanders Capital LLC grew its holdings in shares of Seagate Technology by 1.0% in the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider’s stock valued at $1,426,717,000 after buying an additional 162,561 shares during the period. Capital Research Global Investors increased its position in shares of Seagate Technology by 56.5% in the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock valued at $1,348,262,000 after buying an additional 5,640,443 shares in the last quarter. State Street Corp raised its stake in Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after buying an additional 541,585 shares during the period. Finally, Geode Capital Management LLC grew its stake in Seagate Technology by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider’s stock valued at $370,013,000 after acquiring an additional 132,713 shares during the period. 92.87% of the stock is owned by 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.