Seagate Technology (NASDAQ:STX) Price Target Increased to $95.00 by Analysts at UBS Group

Seagate Technology (NASDAQ:STX) had its price objective raised by stock analysts at UBS Group from $90.00 to $95.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the data storage provider’s stock. UBS Group’s price objective would indicate a potential upside of 11.88% from the company’s previous close.

STX has been the subject of a number of other research reports. Wells Fargo & Company upped their target price on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Wedbush reaffirmed a “neutral” rating and issued a $100.00 target price on shares of Seagate Technology in a report on Wednesday. TD Cowen upped their target price on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group upped their price target on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Rosenblatt Securities upped their price target on Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Seagate Technology currently has an average rating of “Hold” and an average price target of $94.53.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded down $1.62 during trading on Wednesday, reaching $84.91. 3,378,996 shares of the company’s stock were exchanged, compared to its average volume of 2,804,414. Seagate Technology has a 1-year low of $54.47 and a 1-year high of $101.26. The company has a market cap of $17.79 billion, a P/E ratio of -24.24, a PEG ratio of 703.97 and a beta of 1.04. The firm’s 50-day moving average price is $89.29 and its 200 day moving average price is $82.61.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm 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 earned ($0.43) EPS. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, equities research analysts predict that Seagate Technology will post 0.1 EPS for the current year.

Institutional Trading of Seagate Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC increased its position in shares of Seagate Technology by 8.6% during the first quarter. Global Retirement Partners LLC now owns 1,735 shares of the data storage provider’s stock valued at $161,000 after acquiring an additional 138 shares during the last quarter. Stablepoint Partners LLC increased its position in shares of Seagate Technology by 8.1% during the first quarter. Stablepoint Partners LLC now owns 59,132 shares of the data storage provider’s stock valued at $5,502,000 after acquiring an additional 4,449 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Seagate Technology by 68.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 137,213 shares of the data storage provider’s stock valued at $12,768,000 after acquiring an additional 55,586 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of Seagate Technology during the first quarter valued at approximately $511,000. Finally, First Trust Direct Indexing L.P. increased its position in shares of Seagate Technology by 6.1% during the first quarter. First Trust Direct Indexing L.P. now owns 5,894 shares of the data storage provider’s stock valued at $548,000 after acquiring an additional 339 shares during 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.