Seagate Technology (NASDAQ:STX) PT Raised to $125.00 at Cantor Fitzgerald

Seagate Technology (NASDAQ:STX) had its price objective lifted by investment analysts at Cantor Fitzgerald from $120.00 to $125.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the data storage provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 20.24% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Mizuho increased their price target on Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Wedbush increased their target price on Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley boosted their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America reiterated a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a research report on Wednesday, June 5th. Finally, Evercore ISI lifted their price objective on shares of Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Hold” and an average target price of $115.94.

Seagate Technology Price Performance

Shares of STX opened at $103.96 on Wednesday. Seagate Technology has a 1 year low of $57.32 and a 1 year high of $113.57. The company has a 50 day simple moving average of $101.15 and a two-hundred day simple moving average of $92.91. The firm has a market cap of $21.83 billion, a P/E ratio of -80.59 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.05%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted ($0.29) EPS. Seagate Technology’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Seagate Technology will post 5.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the transaction, the executive vice president now directly owns 5,042 shares in the company, valued at approximately $504,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The disclosure for this sale can be found here. Insiders have sold 37,531 shares of company stock worth $3,592,946 in the last three months. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Seagate Technology during the fourth quarter worth $26,000. CVA Family Office LLC bought a new position in shares of Seagate Technology in the 4th quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology during the 4th quarter worth $28,000. Northwest Financial Advisors bought a new stake in Seagate Technology during the fourth quarter valued at about $31,000. Finally, Family Firm Inc. purchased a new position in Seagate Technology in the second quarter valued at about $41,000. 92.87% of the stock is currently 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.