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

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective cut by equities research analysts at Barclays from $105.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the data storage provider's stock. Barclays's price target points to a potential downside of 3.26% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Susquehanna lifted their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the company a "negative" rating in a 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 research report on Wednesday, January 22nd. Summit Insights raised Seagate Technology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Citigroup lowered their target price on Seagate Technology from $115.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, StockNews.com cut Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.39.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded down $0.34 during trading on Tuesday, reaching $82.70. 4,055,435 shares of the company's stock were exchanged, compared to its average volume of 2,767,850. The firm's 50-day moving average price is $84.62 and its 200 day moving average price is $93.61. The company has a market cap of $17.51 billion, a P/E ratio of 15.12 and a beta of 1.21. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $115.32.

Insider Buying and Selling at Seagate Technology

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

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new stake in Seagate Technology in the fourth quarter worth $26,000. Elequin Capital LP purchased a new stake in Seagate Technology in the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in Seagate Technology during the fourth quarter worth about $27,000. Golden State Wealth Management LLC increased its stake in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after purchasing an additional 440 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its position 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 purchasing an additional 113 shares during the period. Institutional investors 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.