Seagate Technology (NASDAQ:STX) Rating Increased to Buy at StockNews.com

Seagate Technology (NASDAQ:STX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Citigroup upped their price objective on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Barclays upped their price target on Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Finally, Susquehanna boosted their price objective on shares of Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Trading Up 1.1 %

NASDAQ:STX opened at $94.51 on Wednesday. Seagate Technology has a twelve month low of $82.31 and a twelve month high of $115.32. The company has a market cap of $20.01 billion, a P/E ratio of 17.28 and a beta of 1.07. The company’s 50-day moving average price is $94.80 and its 200-day moving average price is $99.95.

Insider Buying and Selling at Seagate Technology

In related news, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,073 shares of company stock worth $3,115,549 over the last three months. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in Seagate Technology during the 3rd quarter valued at approximately $26,000. Advisors Asset Management Inc. lifted its holdings in shares of Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares during the period. JFS Wealth Advisors LLC grew its position in Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after buying an additional 293 shares during the last quarter. Human Investing LLC acquired a new position in Seagate Technology in the 4th quarter valued at $48,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Seagate Technology during the 3rd quarter worth $53,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.