Seagate Technology PLC (NASDAQ:STX)‘s stock had its “sector perform” rating reissued by equities research analysts at RBC Capital Markets in a research report issued on Monday. They presently have a $40.00 price objective on the data storage provider’s stock, up from their previous price objective of $34.00. RBC Capital Markets’ price objective suggests a potential upside of 4.60% from the stock’s current price.
STX has been the subject of a number of other reports. Craig Hallum upped their price objective on Seagate Technology PLC from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 7th. Vetr upgraded Seagate Technology PLC from a “strong sell” rating to a “sell” rating and set a $31.33 price objective for the company in a research note on Tuesday, September 6th. Bank of America Corp. restated a “sell” rating and set a $28.00 price objective on shares of Seagate Technology PLC in a research note on Tuesday, September 13th. Brean Capital restated a “buy” rating and set a $42.00 price objective on shares of Seagate Technology PLC in a research note on Wednesday, September 28th. Finally, Goldman Sachs Group Inc. increased their price target on Seagate Technology PLC from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology PLC has an average rating of “Hold” and a consensus target price of $34.57.
Seagate Technology PLC (NASDAQ:STX) opened at 38.24 on Monday. The stock’s 50 day moving average price is $35.18 and its 200 day moving average price is $28.86. Seagate Technology PLC has a 1-year low of $18.42 and a 1-year high of $49.50. The firm has a market cap of $11.48 billion, a P/E ratio of 46.63 and a beta of 2.50.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, August 2nd. The data storage provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.09. The firm earned $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The firm’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. Equities research analysts predict that Seagate Technology PLC will post $3.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Wednesday, September 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend is Monday, September 19th. Seagate Technology PLC’s payout ratio is 307.32%.
In other Seagate Technology PLC news, Director Frank Biondi sold 1,251 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was 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 of the company’s stock, valued at approximately $208,750.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David H. Morton, Jr. sold 1,716 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $36.16, for a total value of $62,050.56. Following the completion of the transaction, the chief financial officer now directly owns 20,782 shares in the company, valued at $751,477.12. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cowen Prime Services LLC purchased a new position in shares of Seagate Technology PLC during the second quarter valued at $105,000. Glenmede Trust Co. NA raised its position 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 valued at $113,000 after buying an additional 1,079 shares during the last quarter. Advisory Services Network LLC raised its position 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 valued at $136,000 after buying an additional 1,300 shares during the last quarter. Tredje AP fonden purchased a new position in shares of Seagate Technology PLC during the second quarter valued at $146,000. Finally, RidgeWorth Capital Management LLC raised its position 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 valued at $157,000 after buying an additional 827 shares during the last quarter. 83.86% of the stock is currently owned by 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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