Seagate Tech (STX) Receives a Hold from Mizuho Securities


In a report released yesterday, Vijay Rakesh from Mizuho Securities reiterated a Hold rating on Seagate Tech (STX), with a price target of $46. The company’s shares closed yesterday at $45.56.

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 20.7% and a 59.0% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.

The word on The Street in general, suggests a Hold analyst consensus rating for Seagate Tech with a $43.11 average price target, which is a -5.4% downside from current levels. In a report released yesterday, Robert W. Baird also maintained a Hold rating on the stock with a $40 price target.

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Based on Seagate Tech’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.99 billion and net profit of $450 million. In comparison, last year the company earned revenue of $2.91 billion and had a net profit of $159 million.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of STX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Seagate Technology Plc engages in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions. It offers its products under the Backup Plus and Expansion product lines, and Maxtor and LaCie brands. The company was founded by Finis Conner, Syed Iftikar, Doug Mahon, David Thomas Mitchell, and Alan F. Shugart in 1978 and is headquartered in Dublin, Ireland.

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