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

Seagate Technology (NASDAQ:STX) had its price target decreased by investment analysts at Citigroup from $125.00 to $115.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the data storage provider’s stock. Citigroup’s target price points to a potential upside of 29.32% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Mizuho decreased their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Seagate Technology Price Performance

Seagate Technology stock opened at $88.93 on Tuesday. Seagate Technology has a 12-month low of $82.31 and a 12-month high of $115.32. The stock has a market capitalization of $18.83 billion, a PE ratio of 16.26 and a beta of 1.01. The firm has a 50 day simple moving average of $96.34 and a 200-day simple moving average of $98.92.

Hedge Funds Weigh In On Seagate Technology

Hedge funds have recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in Seagate Technology in the fourth quarter worth approximately $26,000. Elequin Capital LP acquired a new stake in shares of Seagate Technology in the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC bought a new stake in Seagate Technology in the fourth quarter worth $27,000. Advisors Asset Management Inc. increased its position in Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after buying an additional 258 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after buying an additional 113 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.