Seagate Technology (NASDAQ:STX) PT Raised to $100.00 at Cantor Fitzgerald

Seagate Technology (NASDAQ:STX) had its price objective upped by analysts at Cantor Fitzgerald from $95.00 to $100.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the data storage provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 14.60% from the company’s previous close.

STX has been the topic of several other research reports. TD Cowen increased their price objective on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Mizuho restated a “buy” rating and issued a $100.00 price target on shares of Seagate Technology in a research report on Tuesday, April 9th. Susquehanna raised their price target on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Wedbush restated a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a research report on Wednesday. Finally, Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $94.53.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $87.26 on Wednesday. The business has a fifty day simple moving average of $89.28 and a two-hundred day simple moving average of $82.67. Seagate Technology has a 1 year low of $54.47 and a 1 year high of $101.26. The company has a market capitalization of $18.28 billion, a price-to-earnings ratio of -67.64, a P/E/G ratio of 719.92 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.43) EPS. As a group, equities analysts anticipate that Seagate Technology will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Seagate Technology

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of 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 during the period. Stratos Wealth Partners LTD. increased its holdings 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 purchasing an additional 561 shares in the last quarter. Gotham Asset Management LLC increased its holdings 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 purchasing an additional 29,323 shares in the last quarter. SG Americas Securities LLC increased its holdings 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 purchasing an additional 16,950 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Seagate Technology by 5.0% in the fourth 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 in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.