Positive Report for Seagate Tech (STX) from Robert W. Baird

Robert W. Baird analyst Tristan Gerra upgraded Seagate Tech (STX) to Buy today and set a price target of $60.00. The company’s shares closed last Monday at $47.95.

According to TipRanks.com, Gerra is a 5-star analyst with an average return of 14.9% and a 59.2% success rate. Gerra covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Skyworks Solutions, and Stmicroelectronics.

Currently, the analyst consensus on Seagate Tech is a Hold with an average price target of $60.42.

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Seagate Tech’s market cap is currently $12.51B and has a P/E ratio of 7.78. The company has a Price to Book ratio of 6.84.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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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