Large Inflow of Money Detected in Seagate Technology.

Seagate Technology. (STX) : $3.74 million worth of transactions were on upticks in Seagate Technology. (STX), compared to $2.62 million on downticks. The ratio between the two was 1.43, whereas, the net money flow stood at a healthy $1.12 million on Wednesdays session. The consistent buying on upticks in the stock accounted for $1.24million worth of trades. The total money flow into the stock stood at $1.24 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.28%. The stock was trading at $29.91, with a drop of $0.09 over the previous days close. The stock recorded 3.48% for the week.


Also, In a research note released to the investors, Morgan Stanley upgrades its rating on Seagate Technology. (NASDAQ:STX).The analysts at the brokerage house have a current rating of Equal-weight on the shares. Earlier, the shares were rated a Underweight by the brokerage firm. In a recent information released to the investors, Morgan Stanley raises the new price target from $20 per share to $27 per share. The rating by the firm was issued on July 12, 2016.

Seagate Technology. (NASDAQ:STX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.03 and $29.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $30.50. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.50, notching a gain of 1.70% for the day. The total traded volume was 3,760,916 . The stock had closed at $29.99 on the previous day.

The stock has recorded a 20-day Moving Average of 20.31% and the 50-Day Moving Average is 31.62%. In a related news, The Securities and Exchange Commission has divulged that Morton David H Jr, officer (Chief Financial Officer & EVP) of Seagate Technology Plc, had unloaded 8,038 shares at an average price of $23.79 in a transaction dated on June 6, 2016. The total value of the transaction was worth $191,224.

Seagate Technology plc (Seagate) is a provider of electronic data storage products. The Companys products are hard disk drives (HDD). The Company produces a range of electronic data storage products, including solid state hybrid drives (SSHD), solid state drives (SSD), peripheral component interconnect express (PCIe) cards and Serial AT Attachment (SATA) controllers. The Companys products are designed for enterprise servers and storage systems for applications, client compute applications and client non-compute applications. The Companys product and solution portfolio for the enterprise data storage industry includes storage enclosures, integrated application platforms and high performance computing (HPC) data storage solutions. Its data storage services provide online backup, data protection and recovery solutions for small to medium-sized businesses. Its products include Enterprise Performance HDDs, Mobile HDDs and SSHDs, NAS HDDs, and Surveillance HDDs, among others.

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