Susquehanna analyst Mehdi Hosseini reiterated a Sell rating on Seagate Tech (STX) today and set a price target of $34. The company’s shares closed last Monday at $52.40.
According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 9.4% and a 50.0% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Applied Materials Inc.
Currently, the analyst consensus on Seagate Tech is a Hold with an average price target of $48.54, representing a -7.9% downside. In a report issued on September 19, UBS also maintained a Sell rating on the stock with a $38 price target.
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The company has a one-year high of $57.20 and a one-year low of $35.38. Currently, Seagate Tech has an average volume of 2.87M.
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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.
