Seagate Technology's (STX) Hold Rating Reiterated at Benchmark

Seagate Technology (NASDAQ:STX - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Benchmark in a research report issued to clients and investors on Wednesday, Benzinga reports.

STX has been the subject of several other research reports. Morgan Stanley boosted their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. UBS Group boosted their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. Loop Capital upped their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Northland Securities upped their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $118.83.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $9.12 during midday trading on Wednesday, reaching $103.52. The company had a trading volume of 8,771,794 shares, compared to its average volume of 2,517,590. The stock's fifty day moving average price is $104.92 and its 200-day moving average price is $99.52. The stock has a market capitalization of $21.79 billion, a P/E ratio of 67.22 and a beta of 1.04. Seagate Technology has a one year low of $64.12 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. The business's revenue was up 49.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Seagate Technology will post 7.09 earnings per share for the current year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the sale, the executive vice president now directly owns 9,969 shares of the company's stock, valued at approximately $1,096,590. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the business's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.00, for a total transaction of $535,920.00. Following the sale, the executive vice president now owns 9,969 shares in the company, valued at approximately $1,096,590. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the business's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 214,298 shares of company stock valued at $22,814,576. 0.81% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of STX. Quarry LP acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock valued at $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $41,000. Larson Financial Group LLC increased its holdings in shares of Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider's stock valued at $49,000 after purchasing an additional 473 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of Seagate Technology in the 3rd quarter valued at about $55,000. 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.