Citigroup Has Lowered Expectations for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price target cut by Citigroup from $115.00 to $90.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the data storage provider’s stock. Citigroup’s price target would indicate a potential upside of 25.00% from the stock’s current price.

STX has been the subject of a number of other reports. Susquehanna boosted their target price on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research note on Wednesday, January 22nd. Mizuho decreased their price objective on Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Bank of America reduced 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. Finally, Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $118.78.

Seagate Technology Stock Down 0.9 %

Shares of NASDAQ STX opened at $72.00 on Monday. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $115.32. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 13.16 and a beta of 1.21. The company’s fifty day moving average is $88.24 and its 200-day moving average is $95.34.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the sale, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STX. Ameriflex Group Inc. bought a new position in Seagate Technology during the fourth quarter worth $26,000. Elequin Capital LP bought a new stake in shares of Seagate Technology during the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in Seagate Technology in the 4th quarter valued at $27,000. JFS Wealth Advisors LLC grew its stake in shares of Seagate Technology by 27.0% in the fourth 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 in the last quarter. Finally, Human Investing LLC acquired a new position in shares of Seagate Technology during the 4th quarter worth approximately $48,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.