Seagate Technology (NASDAQ:STX) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Craig Hallum upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, October 26th. Vetr cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 price target on the stock. in a research report on Tuesday, October 31st. Finally, Morgan Stanley boosted their price target on shares of Seagate Technology from $32.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, twenty-three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Seagate Technology has a consensus rating of “Hold” and a consensus target price of $41.41.

Shares of Seagate Technology (NASDAQ STX) traded up $0.55 during midday trading on Friday, hitting $39.11. 5,125,029 shares of the company were exchanged, compared to its average volume of 3,528,329. Seagate Technology has a fifty-two week low of $30.60 and a fifty-two week high of $50.96. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. The company has a market capitalization of $11,156.13, a PE ratio of 9.43, a P/E/G ratio of 0.51 and a beta of 1.67.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. analysts expect that Seagate Technology will post 3.99 EPS for the current year.

In other Seagate Technology news, insider Jeffrey D. Nygaard bought 5,000 shares of the stock in a transaction on Friday, October 27th. The shares were bought at an average price of $37.38 per share, with a total value of $186,900.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David H. Morton, Jr. sold 7,909 shares of Seagate Technology stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $40.00, for a total value of $316,360.00. Following the transaction, the chief financial officer now directly owns 25,561 shares in the company, valued at approximately $1,022,440. The disclosure for this sale can be found here. Insiders sold a total of 44,981 shares of company stock worth $1,656,761 in the last three months. 0.87% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in STX. Teachers Advisors LLC grew its stake in Seagate Technology by 3.7% during the 1st quarter. Teachers Advisors LLC now owns 58,527 shares of the data storage provider’s stock valued at $2,688,000 after acquiring an additional 2,099 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Seagate Technology by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the data storage provider’s stock valued at $713,000 after acquiring an additional 300 shares in the last quarter. Aperio Group LLC grew its stake in Seagate Technology by 41.2% during the 2nd quarter. Aperio Group LLC now owns 84,107 shares of the data storage provider’s stock valued at $3,259,000 after acquiring an additional 24,526 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in Seagate Technology by 3,775.1% during the 2nd quarter. Harbour Capital Advisors LLC now owns 13,563 shares of the data storage provider’s stock valued at $350,000 after acquiring an additional 13,213 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Seagate Technology by 5.5% during the 2nd quarter. CIBC Asset Management Inc now owns 30,121 shares of the data storage provider’s stock valued at $1,167,000 after acquiring an additional 1,570 shares in the last quarter. 91.74% of the stock is currently owned by institutional investors.

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Seagate Technology Company Profile

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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