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

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price reduced by stock analysts at Citigroup from $125.00 to $115.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the data storage provider's stock. Citigroup's price objective indicates a potential upside of 30.28% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Wedbush reissued an "outperform" rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. UBS Group upped their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Northland Securities reaffirmed an "outperform" rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.00.

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Seagate Technology Stock Performance

Shares of STX traded down $0.11 during midday trading on Tuesday, hitting $88.27. 2,575,978 shares of the company traded hands, compared to its average volume of 2,592,490. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of 16.14 and a beta of 1.01. Seagate Technology has a 52 week low of $82.31 and a 52 week high of $115.32. The firm has a 50 day moving average of $96.32 and a 200-day moving average of $98.76.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of STX. GSA Capital Partners LLP purchased a new stake in shares of Seagate Technology during the third quarter valued at approximately $259,000. Victory Capital Management Inc. boosted its holdings in shares of Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider's stock valued at $18,834,000 after buying an additional 98,418 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Seagate Technology by 14.4% during the third quarter. CIBC Asset Management Inc now owns 30,578 shares of the data storage provider's stock valued at $3,349,000 after purchasing an additional 3,848 shares during the last quarter. Empowered Funds LLC boosted its position in Seagate Technology by 6.8% during the 3rd quarter. Empowered Funds LLC now owns 3,274 shares of the data storage provider's stock valued at $359,000 after purchasing an additional 209 shares during the period. Finally, Natixis Advisors LLC grew its position in Seagate Technology by 6.2% in the 3rd quarter. Natixis Advisors LLC now owns 70,117 shares of the data storage provider's stock worth $7,680,000 after purchasing an additional 4,094 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Company Profile

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.