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.
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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
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