Benchmark Raises Seagate Technology (NASDAQ:STX) Price Target to $325.00

Seagate Technology (NASDAQ:STX) had its price objective lifted by stock analysts at Benchmark from $255.00 to $325.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the data storage provider’s stock. Benchmark’s target price suggests a potential upside of 11.52% from the company’s previous close.

A number of other research analysts have also recently weighed in on STX. BNP Paribas Exane reduced their target price on Seagate Technology from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Morgan Stanley increased their price objective on shares of Seagate Technology from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Susquehanna lifted their target price on shares of Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a report on Wednesday, October 29th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Finally, Mizuho boosted their price target on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $290.22.

Seagate Technology Stock Up 2.0%

NASDAQ:STX opened at $291.42 on Tuesday. The company has a market cap of $62.24 billion, a P/E ratio of 37.55, a P/E/G ratio of 1.13 and a beta of 1.59. The firm’s 50 day moving average is $254.95 and its two-hundred day moving average is $196.24. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $308.93.

Insider Transactions at Seagate Technology

In related news, Director Stephanie Tilenius sold 2,046 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the sale, the director directly owned 12,244 shares of the company’s stock, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Monday, December 1st. The stock was sold at an average price of $271.03, for a total transaction of $5,420,600.00. Following the completion of the transaction, the chief executive officer directly owned 445,668 shares of the company’s stock, valued at approximately $120,789,398.04. This represents a 4.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 132,555 shares of company stock valued at $36,030,007 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently made changes to their positions in the company. Harbor Asset Planning Inc. bought a new position in shares of Seagate Technology in the second quarter valued at approximately $27,000. Rakuten Securities Inc. grew its holdings in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of Seagate Technology during the second quarter worth $29,000. First Horizon Corp acquired a new stake in shares of Seagate Technology during the third quarter worth $33,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of Seagate Technology in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Seagate Technology

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.