Cantor Fitzgerald Raises Seagate Technology (NASDAQ:STX) Price Target to $100.00

Seagate Technology (NASDAQ:STX) had its price target upped by analysts at Cantor Fitzgerald from $95.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the data storage provider’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 15.57% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Barclays lowered their price objective on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a research note on Wednesday. Mizuho reissued a “buy” rating and set a $100.00 price objective on shares of Seagate Technology in a research report on Tuesday, April 9th. BNP Paribas cut shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research report on Thursday, January 11th. Finally, Evercore ISI assumed coverage on Seagate Technology in a report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $92.07.

Seagate Technology Trading Up 1.6 %

NASDAQ:STX opened at $86.53 on Wednesday. Seagate Technology has a 1 year low of $54.47 and a 1 year high of $101.26. The firm has a 50 day moving average of $89.29 and a 200-day moving average of $82.61. The stock has a market capitalization of $18.13 billion, a P/E ratio of -24.72, a price-to-earnings-growth ratio of 703.97 and a beta of 1.04.

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

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently modified their holdings of STX. CWM LLC boosted its stake in Seagate Technology by 3.9% in the 4th quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after purchasing an additional 130 shares during the period. Global Retirement Partners LLC increased its position in Seagate Technology by 8.6% during the 1st quarter. Global Retirement Partners LLC now owns 1,735 shares of the data storage provider’s stock worth $161,000 after buying an additional 138 shares during the period. Valley National Advisers Inc. increased its position in Seagate Technology by 39.7% during the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after buying an additional 144 shares during the period. NewEdge Wealth LLC increased its position in Seagate Technology by 3.6% during the 3rd quarter. NewEdge Wealth LLC now owns 4,214 shares of the data storage provider’s stock worth $278,000 after buying an additional 146 shares during the period. Finally, Brighton Jones LLC increased its position in Seagate Technology by 0.8% during the 4th quarter. Brighton Jones LLC now owns 18,754 shares of the data storage provider’s stock worth $1,601,000 after buying an additional 150 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.