UBS Group Increases Seagate Technology (NASDAQ:STX) Price Target to $95.00

Seagate Technology (NASDAQ:STX) had its price objective lifted by research analysts at UBS Group from $90.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the data storage provider’s stock. UBS Group’s price objective would suggest a potential upside of 8.87% from the stock’s previous close.

A number of other research analysts have also commented on STX. Cantor Fitzgerald lifted their price objective on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore ISI began coverage on shares of Seagate Technology in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday. Finally, BNP Paribas downgraded shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price on the stock. in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.53.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $87.26 on Wednesday. The firm has a market capitalization of $18.28 billion, a P/E ratio of -67.64, a P/E/G ratio of 719.92 and a beta of 1.04. Seagate Technology has a 12 month low of $54.47 and a 12 month high of $101.26. The company’s fifty day moving average price is $89.28 and its 200 day moving average price is $82.67.

Seagate Technology (NASDAQ:STX) last posted 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 business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. On average, sell-side analysts anticipate that Seagate Technology will post 0.1 EPS for the current year.

Institutional Trading of Seagate Technology

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Seagate Technology by 6.0% in the third quarter. CWM LLC now owns 3,311 shares of the data storage provider’s stock valued at $218,000 after purchasing an additional 187 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Seagate Technology by 4.9% in the third quarter. IFP Advisors Inc now owns 3,542 shares of the data storage provider’s stock valued at $234,000 after purchasing an additional 164 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Seagate Technology by 23.4% in the third quarter. Global Retirement Partners LLC now owns 2,212 shares of the data storage provider’s stock valued at $146,000 after purchasing an additional 419 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Seagate Technology by 23.2% in the third quarter. SG Americas Securities LLC now owns 21,613 shares of the data storage provider’s stock valued at $1,425,000 after purchasing an additional 4,075 shares in the last quarter. Finally, Czech National Bank lifted its holdings in shares of Seagate Technology by 47.8% in the third quarter. Czech National Bank now owns 33,711 shares of the data storage provider’s stock valued at $2,223,000 after purchasing an additional 10,910 shares in the last quarter. Hedge funds and other 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.