Seagate Technology (NASDAQ:STX – Get Rating) had its price objective decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $72.00 to $60.00 in a research report issued on Monday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 16.26% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Seagate Technology from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Barclays reduced their price target on Seagate Technology from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 1st. Robert W. Baird lowered their price objective on Seagate Technology from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Morgan Stanley dropped their target price on shares of Seagate Technology from $70.00 to $57.00 in a research note on Monday. Finally, Northland Securities lowered their price objective on Seagate Technology from $105.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Seagate Technology currently has an average rating of “Hold” and an average price target of $79.39.
Seagate Technology Stock Down 2.7 %
STX stock opened at $51.61 on Monday. The company’s 50 day moving average is $66.00 and its 200 day moving average is $75.13. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 7.03, a price-to-earnings-growth ratio of 8.62 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 46.44. Seagate Technology has a 1-year low of $49.62 and a 1-year high of $117.67.
Seagate Technology (NASDAQ:STX – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The data storage provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.33). Seagate Technology had a return on equity of 412.90% and a net margin of 14.14%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the company earned $1.92 EPS. Sell-side analysts predict that Seagate Technology will post 4.95 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Tyler Stone Wealth Management bought a new position in shares of Seagate Technology during the fourth quarter worth $28,000. Oakworth Capital Inc. bought a new position in shares of Seagate Technology during the 2nd quarter valued at about $29,000. Hallmark Capital Management Inc. purchased a new position in shares of Seagate Technology during the second quarter valued at about $32,000. Ronald Blue Trust Inc. bought a new stake in shares of Seagate Technology in the second quarter worth about $33,000. Finally, West Branch Capital LLC purchased a new stake in shares of Seagate Technology in the second quarter worth about $35,000. 83.07% 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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