Rosenblatt Securities Remains a Buy on Seagate Tech (STX)
Rosenblatt Securities analyst Kevin Cassidy maintained a Buy rating on Seagate Tech today and set a price target of $500.00.
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Cassidy covers the Technology sector, focusing on stocks such as Micron, Nvidia, and Seagate Tech. According to TipRanks, Cassidy has an average return of 27.3% and a 60.24% success rate on recommended stocks.
Currently, the analyst consensus on Seagate Tech is a Strong Buy with an average price target of $492.00.
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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