Seagate Technology (NASDAQ:STX) Price Target Raised to $360.00 at Wells Fargo & Company

Seagate Technology (NASDAQ:STX) had its target price boosted by equities researchers at Wells Fargo & Company from $250.00 to $360.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the data storage provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 12.91% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Mizuho boosted their price target on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Rosenblatt Securities raised their price target on shares of Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. UBS Group cut their price objective on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Sanford C. Bernstein lifted their target price on shares of Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Loop Capital increased their price target on shares of Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $297.91.

Seagate Technology Trading Up 2.1%

Shares of STX stock traded up $6.56 during trading hours on Thursday, reaching $318.84. 363,268 shares of the company’s stock were exchanged, compared to its average volume of 3,366,653. The stock has a market cap of $68.09 billion, a PE ratio of 40.94, a PEG ratio of 1.25 and a beta of 1.60. The stock’s fifty day moving average price is $281.33 and its two-hundred day moving average price is $220.88. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $332.00.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $285.56, for a total value of $5,711,200.00. Following the sale, the chief executive officer directly owned 429,895 shares in the company, valued at $122,760,816.20. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephanie Tilenius sold 2,046 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $266.41, for a total transaction of $545,074.86. Following the completion of the transaction, the director directly owned 12,244 shares of the company’s stock, valued at $3,261,924.04. The trade was a 14.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 132,557 shares of company stock valued at $36,847,793. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently modified their holdings of the stock. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at approximately $27,000. Rakuten Securities Inc. boosted its holdings in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares during the period. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the fourth quarter worth about $28,000. MTM Investment Management LLC bought a new stake in Seagate Technology in the 2nd quarter valued at about $29,000. Finally, First Horizon Corp acquired a new position in Seagate Technology during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.