Vetr upgraded shares of Seagate Technology PLC (NASDAQ:STX) from a buy rating to a strong-buy rating in a report issued on Tuesday morning. Vetr currently has $41.19 target price on the data storage provider’s stock.
Several other equities research analysts have also commented on the company. Jefferies Group reissued a buy rating and set a $44.00 price target (up previously from $38.00) on shares of Seagate Technology PLC in a research note on Tuesday, October 11th. Seaport Global Securities boosted their price target on Seagate Technology PLC to $44.00 and gave the stock a neutral rating in a research note on Tuesday, October 11th. Cowen and Company boosted their price target on Seagate Technology PLC from $32.00 to $36.00 and gave the stock a market perform rating in a research note on Tuesday, October 11th. FBN Securities boosted their price target on Seagate Technology PLC from $33.00 to $38.00 and gave the stock a sector perform rating in a research note on Tuesday, October 11th. Finally, Benchmark Co. raised Seagate Technology PLC from a hold rating to a buy rating and boosted their price target for the stock from $32.00 to $45.00 in a research note on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $38.35.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 35.16 on Tuesday. The company has a 50 day moving average price of $36.23 and a 200 day moving average price of $29.09. Seagate Technology PLC has a 12-month low of $18.42 and a 12-month high of $41.83. The firm has a market cap of $10.55 billion, a PE ratio of 42.88 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 (EPS) for the quarter, topping 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 analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. On average, analysts forecast that Seagate Technology PLC will post $3.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, September 19th. This represents a $2.52 annualized dividend and a dividend yield of 7.17%. Seagate Technology PLC’s payout ratio is 307.32%.
In other Seagate Technology PLC news, 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 owns 6,433 shares of the company’s stock, valued at $208,750.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the senior vice president now directly owns 56,623 shares in the company, valued at approximately $1,840,247.50. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Spirit of America Management Corp NY acquired a new position in shares of Seagate Technology PLC during the third quarter worth about $104,000. Cowen Prime Services LLC purchased a new stake in shares of Seagate Technology PLC during the second quarter valued at approximately $105,000. Glenmede Trust Co. NA raised 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 valued at $113,000 after buying an additional 1,079 shares during the last quarter. Advisory Services Network LLC raised 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 valued at $136,000 after buying an additional 1,300 shares during the last quarter. Finally, Tredje AP fonden purchased a new stake in shares of Seagate Technology PLC during the second quarter valued at approximately $146,000. 83.86% of the stock is currently owned by hedge funds and other institutional investors.
About Seagate Technology PLC
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.
To view Vetr’s full report, visit Vetr’s official website.
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