Seagate Technology (NASDAQ:STX) received a $58.00 target price from KeyCorp in a note issued to investors on Tuesday, TipRanks reports. The firm presently has a “hold” rating on the data storage provider’s stock. KeyCorp’s price target would indicate a potential upside of 3.18% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. Cowen restated a “market perform” rating and issued a $40.00 price target (down previously from $47.00) on shares of Seagate Technology in a research report on Monday, August 5th. Benchmark reaffirmed a “buy” rating and set a $55.00 price target (down previously from $57.00) on shares of Seagate Technology in a research note on Monday, August 5th. Mizuho set a $46.00 price objective on shares of Seagate Technology and gave the stock a “hold” rating in a research report on Friday, August 2nd. Goldman Sachs Group set a $37.00 price objective on shares of Seagate Technology and gave the company a “sell” rating in a research note on Sunday, July 21st. Finally, BidaskClub upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. Seagate Technology presently has a consensus rating of “Hold” and an average price target of $45.60.

Shares of NASDAQ:STX traded up $0.88 during trading on Tuesday, hitting $56.21. 2,738,948 shares of the stock were exchanged, compared to its average volume of 3,120,191. The company has a market cap of $14.74 billion, a PE ratio of 11.66, a P/E/G ratio of 10.52 and a beta of 1.65. The company has a current ratio of 1.95, a quick ratio of 1.52 and a debt-to-equity ratio of 1.97. The company has a fifty day moving average price of $47.99 and a two-hundred day moving average price of $47.05. Seagate Technology has a 12-month low of $35.38 and a 12-month high of $56.57.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.33 billion. Seagate Technology had a return on equity of 72.07% and a net margin of 19.36%. Seagate Technology’s quarterly revenue was down 16.4% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. Equities research analysts anticipate that Seagate Technology will post 4.3 earnings per share for the current fiscal year.

In other Seagate Technology news, Director Stephen J. Luczo sold 5,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.00, for a total value of $235,000.00. Following the completion of the sale, the director now directly owns 14,221 shares of the company’s stock, valued at approximately $668,387. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 90,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $54.31, for a total value of $4,887,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,000 shares of company stock worth $6,538,050. 1.00% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the business. Redwood Investment Management LLC increased its stake in Seagate Technology by 41.4% in the first quarter. Redwood Investment Management LLC now owns 26,569 shares of the data storage provider’s stock valued at $1,272,000 after purchasing an additional 7,784 shares during the last quarter. CWM Advisors LLC increased its stake in shares of Seagate Technology by 11.2% during the 2nd quarter. CWM Advisors LLC now owns 17,123 shares of the data storage provider’s stock valued at $807,000 after acquiring an additional 1,729 shares during the last quarter. Buckingham Asset Management LLC increased its stake in shares of Seagate Technology by 80.4% during the 2nd quarter. Buckingham Asset Management LLC now owns 10,316 shares of the data storage provider’s stock valued at $486,000 after acquiring an additional 4,598 shares during the last quarter. Horizon Investments LLC purchased a new position in shares of Seagate Technology during the 1st quarter worth about $287,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Seagate Technology by 13.5% during the 2nd quarter. Advisory Services Network LLC now owns 16,021 shares of the data storage provider’s stock worth $755,000 after acquiring an additional 1,903 shares during the period. 83.74% of the stock is currently owned by institutional investors.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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