BidaskClub lowered shares of Seagate Technology PLC (NASDAQ:STX) from a strong-buy rating to a buy rating in a report released on Tuesday morning.
Several other analysts also recently issued reports on STX. Susquehanna Bancshares Inc reissued a neutral rating and set a $44.00 target price (up from $43.00) on shares of Seagate Technology PLC in a research note on Thursday, June 1st. Royal Bank Of Canada reissued a hold rating and set a $45.00 target price on shares of Seagate Technology PLC in a research note on Friday, June 9th. Aegis started coverage on shares of Seagate Technology PLC in a research note on Tuesday, June 13th. They set a buy rating and a $50.00 target price on the stock. Evercore ISI started coverage on shares of Seagate Technology PLC in a research note on Friday, June 16th. They set an in-line rating and a $48.00 target price on the stock. Finally, Barclays PLC downgraded shares of Seagate Technology PLC from an equal weight rating to an underweight rating and cut their target price for the company from $49.00 to $40.00 in a research note on Thursday, July 13th. Five research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Seagate Technology PLC presently has an average rating of Hold and an average target price of $40.06.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 31.89 on Tuesday. The stock has a 50 day moving average price of $32.46 and a 200-day moving average price of $40.94. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $50.96. The stock has a market cap of $9.31 billion, a P/E ratio of 12.36 and a beta of 1.69.
Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.34). Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the firm earned $0.69 earnings per share. Seagate Technology PLC’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts forecast that Seagate Technology PLC will post $3.69 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 7.90%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is presently 97.67%.
In related news, insider Philip G. Brace bought 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the purchase, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. WFG Advisors LP lifted its stake in shares of Seagate Technology PLC by 16,536.4% in the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after buying an additional 3,638 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Seagate Technology PLC in the second quarter valued at about $150,000. First Quadrant L P CA bought a new stake in shares of Seagate Technology PLC in the second quarter valued at about $153,000. Global X Management Co. LLC lifted its stake in shares of Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares during the period. Finally, Sigma Investment Counselors Inc. bought a new position in Seagate Technology PLC during the first quarter worth about $201,000. Institutional investors and hedge funds own 89.88% of the company’s stock.
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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