Citigroup Cuts Seagate Technology (NASDAQ:STX) Price Target to $115.00

Seagate Technology (NASDAQ:STX) had its target price lowered by stock analysts at Citigroup from $125.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the data storage provider’s stock. Citigroup’s price target indicates a potential upside of 28.26% from the stock’s previous close.

Several other brokerages also recently weighed in on STX. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. UBS Group lifted their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.00.

Seagate Technology Trading Down 0.9 %

NASDAQ:STX traded down $0.85 during mid-day trading on Tuesday, hitting $89.67. The stock had a trading volume of 189,341 shares, compared to its average volume of 2,589,609. The stock has a market capitalization of $18.98 billion, a price-to-earnings ratio of 16.39 and a beta of 1.01. The company has a 50 day simple moving average of $96.35 and a 200-day simple moving average of $99.06. Seagate Technology has a 52 week low of $82.31 and a 52 week high of $115.32.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STX. GSA Capital Partners LLP purchased a new position in shares of Seagate Technology in the third quarter worth approximately $259,000. Victory Capital Management Inc. increased its position in shares of Seagate Technology by 133.8% in the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after acquiring an additional 98,418 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Seagate Technology by 14.4% in the third quarter. CIBC Asset Management Inc now owns 30,578 shares of the data storage provider’s stock worth $3,349,000 after acquiring an additional 3,848 shares in the last quarter. Empowered Funds LLC increased its position in shares of Seagate Technology by 6.8% in the third quarter. Empowered Funds LLC now owns 3,274 shares of the data storage provider’s stock worth $359,000 after acquiring an additional 209 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Seagate Technology by 6.2% in the third quarter. Natixis Advisors LLC now owns 70,117 shares of the data storage provider’s stock worth $7,680,000 after acquiring an additional 4,094 shares in the last quarter. 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.