Seagate Technology (NASDAQ:STX) Given New $112.00 Price Target at Bank of America

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective dropped by research analysts at Bank of America from $130.00 to $112.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the data storage provider's stock. Bank of America's target price suggests a potential upside of 29.14% from the stock's current price.

Other research analysts also recently issued research reports about the company. Barclays increased their price target on Seagate Technology from $95.00 to $105.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Northland Securities restated an "outperform" rating and issued a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Citigroup boosted their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Mizuho reduced their price objective on Seagate Technology from $130.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Finally, Benchmark upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target for the company in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $121.56.

Remove Ads

Seagate Technology Trading Down 0.3 %

STX stock opened at $86.73 on Thursday. The business's 50 day moving average is $96.36 and its 200-day moving average is $99.34. Seagate Technology has a 1-year low of $82.31 and a 1-year high of $115.32. The firm has a market cap of $18.36 billion, a P/E ratio of 15.86 and a beta of 1.01.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH boosted its stake in shares of Seagate Technology by 116.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,392 shares of the data storage provider's stock valued at $379,000 after purchasing an additional 2,367 shares during the period. Menard Financial Group LLC bought a new stake in Seagate Technology during the fourth quarter worth about $50,000. B. Riley Wealth Advisors Inc. boosted its holdings in Seagate Technology by 0.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock worth $1,327,000 after acquiring an additional 134 shares in the last quarter. Polar Asset Management Partners Inc. grew its position in Seagate Technology by 31.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 183,600 shares of the data storage provider's stock valued at $15,847,000 after purchasing an additional 43,400 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new position in Seagate Technology in the 4th quarter valued at approximately $26,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.