Susquehanna analyst Mehdi Hosseini reiterated a Sell rating on Seagate Tech (STX) today and set a price target of $33.00. The company’s shares closed last Wednesday at $44.31.
According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 6.6% and a 48.4% success rate. Hosseini covers the Technology sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Keysight Technologies.
The word on The Street in general, suggests a Hold analyst consensus rating for Seagate Tech with a $50.64 average price target, which is a 12.4% upside from current levels. In a report released today, Merrill Lynch also maintained a Sell rating on the stock with a $43.00 price target.
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Seagate Tech’s market cap is currently $12.46B and has a P/E ratio of 7.50. The company has a Price to Book ratio of 26.23.
Based on the recent corporate insider activity of 203 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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