Seagate Technology (NASDAQ:STX) Given “Hold” Rating at Benchmark

Seagate Technology (NASDAQ:STX)‘s stock had its “hold” rating reiterated by investment analysts at Benchmark in a research note issued on Wednesday, Benzinga reports.

Several other equities analysts have also weighed in on STX. BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price on the stock. in a research note on Thursday, January 11th. Susquehanna raised their price target on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Mizuho reaffirmed a “buy” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Tuesday, April 9th. The Goldman Sachs Group raised their price target on Seagate Technology from $65.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Finally, TD Cowen raised their price target on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.87.

Seagate Technology Trading Down 2.0 %

Shares of STX traded down $1.69 during trading hours on Wednesday, hitting $84.84. 3,251,048 shares of the stock traded hands, compared to its average volume of 2,802,092. Seagate Technology has a 1-year low of $54.47 and a 1-year high of $101.26. The firm has a market capitalization of $17.77 billion, a PE ratio of -23.93, a price-to-earnings-growth ratio of 703.97 and a beta of 1.04. The business has a fifty day moving average of $89.29 and a 200-day moving average of $82.61.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted ($0.43) EPS. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Seagate Technology will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Seagate Technology in the 4th quarter worth about $26,000. CVA Family Office LLC acquired a new position in Seagate Technology in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Seagate Technology in the 4th quarter worth about $28,000. Northwest Financial Advisors acquired a new position in Seagate Technology in the 4th quarter worth about $31,000. Finally, Parkside Financial Bank & Trust increased its holdings in Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds 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.