Seagate Technology (NASDAQ:STX) Given “Hold” Rating at Benchmark

Seagate Technology (NASDAQ:STX)‘s stock had its “hold” rating reissued by analysts at Benchmark in a research note issued to investors on Wednesday, Benzinga reports.

STX has been the subject of a number of other reports. Susquehanna lifted their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research note on Wednesday, April 10th. BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target for the company. in a report on Thursday, January 11th. TD Cowen boosted their price target on shares of Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barclays reduced their price target on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Wedbush restated a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and an average price target of $92.87.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded down $1.69 on Wednesday, reaching $84.84. The company’s stock had a trading volume of 3,251,048 shares, compared to its average volume of 2,802,092. Seagate Technology has a 52-week low of $54.47 and a 52-week high of $101.26. The company has a market cap of $17.77 billion, a P/E ratio of -23.93, a PEG ratio of 703.97 and a beta of 1.04. The company has a 50-day simple moving average of $89.29 and a 200 day simple moving average of $82.61.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the business earned ($0.43) earnings per share. The business’s quarterly revenue was down 11.0% on a year-over-year basis. On average, equities research analysts forecast that Seagate Technology will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Seagate Technology in the 4th quarter valued at about $26,000. CVA Family Office LLC purchased a new position in Seagate Technology in the 4th quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in Seagate Technology in the 4th quarter valued at about $28,000. Parkside Financial Bank & Trust lifted its holdings in Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Finally, Northwest Financial Advisors purchased a new position in shares of Seagate Technology during the 4th quarter worth about $31,000. 92.87% of the stock is currently owned by hedge funds and other 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.