Seagate Technology (NASDAQ:STX) Upgraded at StockNews.com

Seagate Technology (NASDAQ:STX - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts have also recently weighed in on the stock. Evercore ISI increased their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lowered their price objective on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Mizuho cut their target price on Seagate Technology from $130.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. Wedbush reiterated an "outperform" rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Finally, Benchmark upgraded Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.56.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded down $0.39 during midday trading on Wednesday, hitting $96.15. 1,975,463 shares of the stock were exchanged, compared to its average volume of 3,666,116. The business's 50-day moving average price is $94.54 and its 200 day moving average price is $99.83. Seagate Technology has a 12 month low of $82.31 and a 12 month high of $115.32. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of 17.58 and a beta of 1.07.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the completion of the sale, the chief executive officer now directly owns 622,497 shares in the company, valued at $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,891 shares of company stock worth $2,146,848. 0.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in STX. Sanders Capital LLC boosted its stake in shares of Seagate Technology by 0.9% in the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider's stock valued at $1,792,742,000 after purchasing an additional 150,115 shares in the last quarter. State Street Corp grew its stake in shares of Seagate Technology by 6.8% during the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock valued at $937,081,000 after buying an additional 541,585 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Seagate Technology by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock worth $454,477,000 after buying an additional 318,416 shares during the period. Franklin Resources Inc. lifted its stake in shares of Seagate Technology by 29.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock valued at $197,844,000 after acquiring an additional 405,232 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Seagate Technology by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider's stock valued at $117,632,000 after acquiring an additional 34,979 shares during the period. Institutional investors 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.