Fintel reports that on September 7, 2023, Barclays downgraded their outlook for Seagate Technology Holdings (NASDAQ:STX) from Overweight to Equal-Weight.
Analyst Price Forecast Suggests 9.11% Downside
As of August 31, 2023, the average one-year price target for Seagate Technology Holdings is 64.74. The forecasts range from a low of 40.40 to a high of $84.00. The average price target represents a decrease of 9.11% from its latest reported closing price of 71.23.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Seagate Technology Holdings is 9,372MM, an increase of 26.92%. The projected annual non-GAAP EPS is 5.22.
What is the Fund Sentiment?
There are 1215 funds or institutions reporting positions in Seagate Technology Holdings. This is a decrease of 46 owner(s) or 3.65% in the last quarter. Average portfolio weight of all funds dedicated to STX is 0.18%, a decrease of 11.57%. Total shares owned by institutions decreased in the last three months by 2.52% to 200,317K shares. The put/call ratio of STX is 1.31, indicating a bearish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 16,180K shares representing 7.80% ownership of the company. In it’s prior filing, the firm reported owning 15,279K shares, representing an increase of 5.57%. The firm increased its portfolio allocation in STX by 603.93% over the last quarter.
Sanders Capital holds 15,024K shares representing 7.24% ownership of the company. In it’s prior filing, the firm reported owning 14,355K shares, representing an increase of 4.46%. The firm decreased its portfolio allocation in STX by 13.64% over the last quarter.
ValueAct Holdings holds 13,437K shares representing 6.48% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 6,119K shares representing 2.95% ownership of the company. In it’s prior filing, the firm reported owning 6,071K shares, representing an increase of 0.78%. The firm decreased its portfolio allocation in STX by 12.99% over the last quarter.
FLPSX – Fidelity Low-Priced Stock Fund holds 5,058K shares representing 2.44% ownership of the company. In it’s prior filing, the firm reported owning 4,522K shares, representing an increase of 10.58%. The firm increased its portfolio allocation in STX by 2.05% over the last quarter.
Seagate Technology Holdings Background Information
(This description is provided by the company.)
Seagate Technology crafts the datasphere, helping to maximize humanity’s potential by innovating world-class, precision-engineered data storage and management solutions with a focus on sustainable partnerships.
This article originally appeared on Fintel
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
