Evercore ISI Boosts Seagate Technology (NASDAQ:STX) Price Target to $135.00

Seagate Technology (NASDAQ:STX) had its price objective boosted by stock analysts at Evercore ISI from $125.00 to $135.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the data storage provider’s stock. Evercore ISI’s price target would indicate a potential upside of 24.95% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Northland Securities lifted their price objective on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lifted their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Susquehanna lifted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $117.61.

Seagate Technology Trading Down 4.1 %

STX stock opened at $108.04 on Wednesday. Seagate Technology has a 52 week low of $64.12 and a 52 week high of $115.32. The company has a market capitalization of $22.74 billion, a price-to-earnings ratio of 70.16 and a beta of 1.04. The firm’s 50-day moving average is $104.92 and its two-hundred day moving average is $99.52.

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

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 214,298 shares of company stock worth $22,814,576. 0.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. Quarry LP acquired a new stake in Seagate Technology during the second quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 337 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Seagate Technology in the 2nd quarter worth approximately $41,000. Larson Financial Group LLC boosted its holdings in shares of Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after acquiring an additional 473 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of Seagate Technology in the 3rd quarter worth approximately $55,000. 92.87% of the stock is owned by institutional investors and hedge funds.

About Seagate Technology

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.