Seagate Technology PLC (NASDAQ:STX)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group in a report issued on Tuesday. They currently have a $44.00 target price on the data storage provider’s stock, up from their prior target price of $38.00. Jefferies Group’s target price points to a potential upside of 24.89% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. Vetr downgraded shares of Seagate Technology PLC from a “sell” rating to a “strong sell” rating and set a $28.00 target price for the company. in a research report on Monday, August 15th. Craig Hallum boosted their target price on shares of Seagate Technology PLC from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 7th. JPMorgan Chase & Co. raised shares of Seagate Technology PLC from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $38.00 in a research report on Tuesday. BMO Capital Markets reissued a “market perform” rating on shares of Seagate Technology PLC in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada boosted their price objective on shares of Seagate Technology PLC from $31.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.35.
Seagate Technology PLC (NASDAQ:STX) traded down 0.68% during mid-day trading on Tuesday, hitting $34.99. The stock had a trading volume of 2,730,173 shares. Seagate Technology PLC has a 52-week low of $18.42 and a 52-week high of $44.16. The firm has a 50-day moving average of $36.04 and a 200-day moving average of $29.03. The stock has a market cap of $10.50 billion, a P/E ratio of 42.67 and a beta of 2.50.
Seagate Technology PLC (NASDAQ:STX) last released its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.09. The company earned $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. The company’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, analysts forecast that Seagate Technology PLC will post $3.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Monday, September 19th. Seagate Technology PLC’s dividend payout ratio is 307.32%.
In related news, CFO David H. Morton, Jr. sold 1,716 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total transaction of $62,050.56. Following the completion of the sale, the chief financial officer now directly owns 20,782 shares of the company’s stock, valued at approximately $751,477.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mark Re sold 12,750 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $31.84, for a total transaction of $405,960.00. Following the sale, the senior vice president now directly owns 65,520 shares of the company’s stock, valued at $2,086,156.80. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of STX. Cowen Prime Services LLC bought a new stake in shares of Seagate Technology PLC during the second quarter worth $105,000. Glenmede Trust Co. NA increased its stake in shares of Seagate Technology PLC by 30.2% in the second quarter. Glenmede Trust Co. NA now owns 4,650 shares of the data storage provider’s stock worth $113,000 after buying an additional 1,079 shares during the period. Advisory Services Network LLC increased its stake in shares of Seagate Technology PLC by 30.2% in the second quarter. Advisory Services Network LLC now owns 5,603 shares of the data storage provider’s stock worth $136,000 after buying an additional 1,300 shares during the period. Tredje AP fonden bought a new stake in shares of Seagate Technology PLC during the second quarter worth $146,000. Finally, RidgeWorth Capital Management LLC increased its stake in shares of Seagate Technology PLC by 14.5% in the second quarter. RidgeWorth Capital Management LLC now owns 6,545 shares of the data storage provider’s stock worth $157,000 after buying an additional 827 shares during the period. 83.86% of the stock is owned by institutional investors and hedge funds.
Seagate Technology PLC Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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