Seagate Tech (STX): New Buy Recommendation for This Technology Giant
In a report released today, Erik Woodring from Morgan Stanley reiterated a Buy rating on Seagate Tech, with a price target of $582.00.
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According to TipRanks, Woodring is a 5-star analyst with an average return of 19.0% and a 59.84% success rate. Woodring covers the Technology sector, focusing on stocks such as HP, Western Digital, and Dell Technologies.
In addition to Morgan Stanley, Seagate Tech also received a Buy from TipRanks – OpenAI’s OpenAI Computer Hardware in a report issued on April 1. However, on the same day, TipRanks – Anthropic reiterated a Hold rating on Seagate Tech (NASDAQ: STX).
Based on Seagate Tech’s latest earnings release for the quarter ending January 2, the company reported a quarterly revenue of $2.83 billion and a net profit of $593 million. In comparison, last year the company earned a revenue of $2.33 billion and had a net profit of $336 million
Based on the recent corporate insider activity of 140 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. Earlier this month, William Mosley, the CEO of STX sold 19,900.00 shares for a total of $8,374,656.42.
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- Seagate price target raised to $582, moved to Top Pick at Morgan Stanley
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