Bank of America Lowers Seagate Technology (NASDAQ:STX) Price Target to $112.00

Seagate Technology (NASDAQ:STX) had its target price decreased by Bank of America from $130.00 to $112.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the data storage provider’s stock. Bank of America‘s price objective points to a potential upside of 27.42% from the stock’s current price.

A number of other brokerages have also issued reports on STX. Wells Fargo & Company cut their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Wednesday, January 22nd. UBS Group raised their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. StockNews.com lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.56.

Seagate Technology Stock Performance

STX stock opened at $87.90 on Thursday. The firm has a market cap of $18.61 billion, a P/E ratio of 16.07 and a beta of 1.01. Seagate Technology has a 52 week low of $82.31 and a 52 week high of $115.32. The firm’s fifty day moving average is $96.32 and its 200 day moving average is $99.12.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STX. Victory Capital Management Inc. grew its holdings in shares of Seagate Technology by 133.8% during the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after buying an additional 98,418 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Seagate Technology by 9.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider’s stock valued at $4,215,000 after purchasing an additional 4,229 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Seagate Technology by 341.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock valued at $143,370,000 after purchasing an additional 1,012,638 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of Seagate Technology by 87.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock valued at $740,000 after purchasing an additional 4,014 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Seagate Technology by 9.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider’s stock valued at $7,360,000 after purchasing an additional 7,599 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.