Seagate Technology PLC (NASDAQ:STX)‘s stock had its “equal weight” rating reiterated by research analysts at Barclays PLC in a research note issued to investors on Thursday. They currently have a $40.00 price target on the data storage provider’s stock, up from their previous price target of $36.00. Barclays PLC’s price objective indicates a potential upside of 3.76% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Jefferies Group upped their price target on Seagate Technology PLC from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 2nd. Vetr lowered Seagate Technology PLC from a “strong-buy” rating to a “hold” rating and set a $23.50 price target on the stock. in a research report on Tuesday, June 14th. Brean Capital reiterated a “buy” rating on shares of Seagate Technology PLC in a research report on Wednesday, June 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of Seagate Technology PLC in a research report on Friday, June 17th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Seagate Technology PLC in a research report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $34.05.
Seagate Technology PLC (NASDAQ:STX) traded up 2.01% during midday trading on Thursday, reaching $38.55. The company’s stock had a trading volume of 3,839,954 shares. The firm has a market capitalization of $11.57 billion, a PE ratio of 47.01 and a beta of 2.46. Seagate Technology PLC has a 1-year low of $18.42 and a 1-year high of $49.50. The firm has a 50 day moving average price of $34.81 and a 200 day moving average price of $28.91.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.09. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the company posted $0.77 EPS. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts predict that Seagate Technology PLC will post $3.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.54%. Seagate Technology PLC’s payout ratio is 307.32%.
In other news, SVP Mark Re sold 3,082 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $32.50, for a total transaction of $100,165.00. Following the transaction, the senior vice president now directly owns 56,623 shares of the company’s stock, valued at $1,840,247.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Biondi sold 1,251 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $32.45, for a total value of $40,594.95. Following the transaction, the director now directly owns 6,433 shares in the company, valued at $208,750.85. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of Seagate Technology PLC by 4.0% in the first quarter. Geode Capital Management LLC now owns 2,429,601 shares of the data storage provider’s stock worth $83,532,000 after buying an additional 93,659 shares during the period. PGGM Investments boosted its position in shares of Seagate Technology PLC by 96.4% in the second quarter. PGGM Investments now owns 1,423,321 shares of the data storage provider’s stock worth $34,672,000 after buying an additional 698,632 shares during the period. Eagle Asset Management Inc. boosted its position in shares of Seagate Technology PLC by 944.4% in the second quarter. Eagle Asset Management Inc. now owns 710,896 shares of the data storage provider’s stock worth $17,317,000 after buying an additional 642,829 shares during the period. Alps Advisors Inc. boosted its position in shares of Seagate Technology PLC by 88.2% in the second quarter. Alps Advisors Inc. now owns 1,136,305 shares of the data storage provider’s stock worth $27,680,000 after buying an additional 532,405 shares during the period. Finally, Algert Global LLC bought a new position in shares of Seagate Technology PLC during the first quarter worth about $452,000. 83.86% of the stock is currently owned by hedge funds and other institutional investors.
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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