Susquehanna Reaffirms Their Sell Rating on Seagate Tech (STX)

Susquehanna analyst Mehdi Hosseini reiterated a Sell rating on Seagate Tech (STXResearch Report) today and set a price target of $36.00. The company’s shares closed last Thursday at $47.58.

According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 4.1% and a 43.7% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Keysight Technologies, and Super Micro Computer.

The word on The Street in general, suggests a Hold analyst consensus rating for Seagate Tech with a $55.62 average price target, implying a 17.3% upside from current levels. In a report issued on March 26, Barclays also maintained a Sell rating on the stock with a $40.00 price target.

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Based on Seagate Tech’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.7 billion and net profit of $318 million. In comparison, last year the company earned revenue of $2.72 billion and had a net profit of $384 million.

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Seagate Technology Plc engages in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions. It offers its products under the Backup Plus and Expansion product lines, and Maxtor and LaCie brands. The company was founded by Finis Conner, Syed Iftikar, Doug Mahon, David Thomas Mitchell, and Alan F. Shugart in 1978 and is headquartered in Dublin, Ireland.