Seagate Tech (STX): New Buy Recommendation for This Technology Giant

In a report released yesterday, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Seagate Tech, with a price target of $565.00.

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Rakesh covers the Technology sector, focusing on stocks such as ARM Holdings PLC ADR, Micron, and IonQ. According to TipRanks, Rakesh has an average return of 44.7% and a 59.72% success rate on recommended stocks.

In addition to Mizuho Securities, Seagate Tech also received a Buy from TipRanks – Google’s Google Computer Hardware in a report issued yesterday. 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.