Seagate Technology (NASDAQ:STX) Price Target Lowered to $80.00 at Barclays

Seagate Technology (NASDAQ:STXGet Free Report) had its target price lowered by equities research analysts at Barclays from $85.00 to $80.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the data storage provider’s stock. Barclays‘s price objective would suggest a potential downside of 3.32% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $95.00 target price on shares of Seagate Technology in a report on Monday, March 4th. Rosenblatt Securities increased their target price on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. TD Cowen lifted their price target on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. BNP Paribas cut shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target on the stock. in a research note on Thursday, January 11th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $100.00 target price on shares of Seagate Technology in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.73.

View Our Latest Stock Analysis on STX

Seagate Technology Trading Up 0.4 %

STX opened at $82.75 on Monday. The company has a market cap of $17.34 billion, a price-to-earnings ratio of -23.71, a price-to-earnings-growth ratio of 681.49 and a beta of 1.04. The stock has a fifty day simple moving average of $89.38 and a two-hundred day simple moving average of $82.34. Seagate Technology has a 12-month low of $54.47 and a 12-month high of $101.26.

Seagate Technology (NASDAQ:STXGet Free Report) last released its earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.19. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. On average, analysts predict that Seagate Technology will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after acquiring an additional 1,485,937 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Seagate Technology by 8.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after buying an additional 561 shares during the last quarter. Gotham Asset Management LLC lifted its position in Seagate Technology by 51.1% in the third quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock worth $5,717,000 after buying an additional 29,323 shares during the last quarter. SG Americas Securities LLC lifted its position in Seagate Technology by 78.4% in the fourth quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock worth $3,292,000 after buying an additional 16,950 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Seagate Technology by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 13,293 shares of the data storage provider’s stock worth $1,144,000 after purchasing an additional 630 shares during the period. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.