Seagate Technology (NASDAQ:STX) Stock Rating Upgraded by BNP Paribas

Seagate Technology (NASDAQ:STX) was upgraded by BNP Paribas from a “strong sell” rating to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.

STX has been the subject of several other research reports. Bank of America lowered their price target on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. StockNews.com lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Wednesday, January 22nd. Finally, Mizuho lowered their price target on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $114.11.

Seagate Technology Price Performance

NASDAQ:STX opened at $107.79 on Friday. The firm’s 50 day simple moving average is $84.56 and its 200 day simple moving average is $92.45. Seagate Technology has a one year low of $63.19 and a one year high of $115.32. The company has a market cap of $22.87 billion, a PE ratio of 19.71 and a beta of 1.32.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the company earned $0.33 EPS. The firm’s revenue was up 30.5% compared to the same quarter last year. Equities research analysts expect that Seagate Technology will post 6.83 EPS for the current year.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in STX. Berkshire Bank raised its stake in Seagate Technology by 2.6% in the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock valued at $355,000 after acquiring an additional 103 shares during the period. MWA Asset Management raised its stake in Seagate Technology by 0.5% in the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock valued at $1,695,000 after acquiring an additional 104 shares during the period. Johnson Financial Group Inc. raised its stake in Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock valued at $52,000 after acquiring an additional 112 shares during the period. JFS Wealth Advisors LLC raised its stake in Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 113 shares during the period. Finally, Signaturefd LLC raised its stake in Seagate Technology by 2.3% in the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider’s stock valued at $431,000 after acquiring an additional 113 shares during the period. 92.87% of the stock is 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.