Robert W. Baird Believes Seagate Tech (STX) Still Has Room to Grow

Robert W. Baird analyst Tristan Gerra maintained a Buy rating on Seagate Tech (STX) yesterday and set a price target of $70.00. The company’s shares closed last Thursday at $75.56, close to its 52-week high of $77.07.

According to, Gerra is a 5-star analyst with an average return of 23.3% and a 65.7% success rate. Gerra covers the Technology sector, focusing on stocks such as Himax Technologies, Western Digital, and Lattice Semicon.

Seagate Tech has an analyst consensus of Moderate Buy, with a price target consensus of $72.20, representing a -4.2% downside. In a report issued on February 17, Craig-Hallum also maintained a Buy rating on the stock with a $90.00 price target.

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Seagate Tech’s market cap is currently $17.59B and has a P/E ratio of 18.60. The company has a Price to Book ratio of -58.89.

Based on the recent corporate insider activity of 161 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.

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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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