Seagate Technology (NASDAQ:STX) Upgraded by StockNews.com to "Buy" Rating

Seagate Technology (NASDAQ:STX - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Monday.

A number of other research firms also recently weighed in on STX. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. Summit Insights upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. Morgan Stanley lowered their price target on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 21st. 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 note on Wednesday, October 23rd. Finally, UBS Group lifted their target price on Seagate Technology from $95.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average price target of $122.56.

Seagate Technology Trading Down 4.4 %

Shares of Seagate Technology stock traded down $4.71 during trading on Monday, reaching $103.48. The stock had a trading volume of 4,187,671 shares, compared to its average volume of 3,839,854. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 18.92 and a beta of 1.06. The stock has a fifty day moving average price of $95.00 and a two-hundred day moving average price of $100.35. Seagate Technology has a 52 week low of $82.31 and a 52 week high of $115.32.

Insider Buying and Selling

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares of the company's stock, valued at $667,430.10. The trade was a 10.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares in the company, valued at approximately $63,947,726.41. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,073 shares of company stock valued at $5,106,149. Insiders own 0.81% of the company's stock.

Institutional Trading of Seagate Technology

A number of institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Seagate Technology during the third quarter valued at approximately $26,000. Quarry LP acquired a new position in shares of Seagate Technology during the 2nd quarter worth $27,000. Advisors Asset Management Inc. lifted its position in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock worth $44,000 after buying an additional 258 shares during the last quarter. JFS Wealth Advisors LLC grew its position in Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider's stock valued at $46,000 after acquiring an additional 293 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Seagate Technology in the third quarter worth about $53,000. 92.87% of the stock is currently owned by institutional investors.

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.

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