Seagate Technology PLC (NASDAQ:STX)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a research report issued to clients and investors on Thursday. They presently have a $45.00 price target on the data storage provider’s stock, up from their previous price target of $36.00. BTIG Research’s target price indicates a potential upside of 18.76% from the company’s current price.
A number of other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Seagate Technology PLC from $34.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday, October 3rd. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $40.00 target price (up previously from $34.00) on shares of Seagate Technology PLC in a report on Monday, October 3rd. Vetr downgraded shares of Seagate Technology PLC from a “buy” rating to a “hold” rating and set a $38.84 target price for the company. in a report on Tuesday, September 27th. Zacks Investment Research raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, October 5th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $42.00 target price on shares of Seagate Technology PLC in a report on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.27.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 37.89 on Thursday. The company has a 50 day moving average price of $35.70 and a 200-day moving average price of $29.01. The stock has a market cap of $11.37 billion, a P/E ratio of 46.21 and a beta of 2.50. Seagate Technology PLC has a 12 month low of $18.42 and a 12 month high of $49.43.
Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The business earned $2.65 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, equities research analysts predict that Seagate Technology PLC will post $3.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st will be issued a $0.63 dividend. The ex-dividend date is Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.65%. Seagate Technology PLC’s dividend payout ratio is currently 307.32%.
In related news, SVP Mark Re sold 3,082 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $32.50, for a total transaction of $100,165.00. Following the completion of the transaction, the senior vice president now owns 56,623 shares of the company’s stock, valued at $1,840,247.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David H. Morton, Jr. sold 1,716 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $36.16, for a total transaction of $62,050.56. Following the transaction, the chief financial officer now directly owns 20,782 shares of the company’s stock, valued at approximately $751,477.12. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. boosted its position in shares of Seagate Technology PLC by 118.3% in the third quarter. First Mercantile Trust Co. now owns 38,753 shares of the data storage provider’s stock valued at $1,494,000 after buying an additional 21,000 shares during the period. Foundry Partners LLC acquired a new position in shares of Seagate Technology PLC during the third quarter valued at about $4,769,000. BNP Paribas Arbitrage SA boosted its position in shares of Seagate Technology PLC by 7.9% in the third quarter. BNP Paribas Arbitrage SA now owns 378,910 shares of the data storage provider’s stock valued at $14,607,000 after buying an additional 27,813 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Seagate Technology PLC during the second quarter valued at about $294,000. Finally, Kentucky Retirement Systems acquired a new position in shares of Seagate Technology PLC during the second quarter valued at about $618,000. 83.86% of the stock is 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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