In a report released yesterday, Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on Seagate Tech (STX – Research Report), with a price target of $75.00. The company’s shares closed yesterday at $62.25.
Cassidy covers the Technology sector, focusing on stocks such as Ambarella, Smart Global Holdings, and Ceva. According to TipRanks, Cassidy has an average return of 22.7% and a 66.59% success rate on recommended stocks.
In addition to Rosenblatt Securities, Seagate Tech also received a Buy from Robert W. Baird’s Tristan Gerra in a report issued yesterday. However, on the same day, Mizuho Securities maintained a Hold rating on Seagate Tech (NASDAQ: STX).
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Based on Seagate Tech’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.04 billion and a net profit of $29 million. In comparison, last year the company earned a revenue of $3.12 billion and had a net profit of $526 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.
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