Favorable Media Coverage Somewhat Unlikely to Affect Seagate Technology (STX) Stock Price

Headlines about Seagate Technology (NASDAQ:STX) have trended positive on Wednesday, Accern Sentiment reports. The research group scores the sentiment of media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Seagate Technology earned a media sentiment score of 0.44 on Accern’s scale. Accern also assigned media coverage about the data storage provider an impact score of 43.8173949033894 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Here are some of the headlines that may have effected Accern Sentiment’s analysis:

A number of research analysts recently weighed in on STX shares. BidaskClub lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, October 26th. Vetr raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating and set a $41.39 price target on the stock in a research note on Monday, November 6th. Argus reaffirmed a “hold” rating and issued a $40.00 price target on shares of Seagate Technology in a research note on Tuesday, October 24th. Finally, Guggenheim reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Seagate Technology presently has an average rating of “Hold” and an average price target of $41.53.

Shares of Seagate Technology (NASDAQ STX) traded down $0.65 during midday trading on Wednesday, hitting $41.53. 3,321,926 shares of the stock were exchanged, compared to its average volume of 5,124,565. The firm has a market cap of $12,437.81, a P/E ratio of 10.51, a P/E/G ratio of 0.57 and a beta of 1.67. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. Seagate Technology has a fifty-two week low of $30.60 and a fifty-two week high of $50.96.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. equities research analysts forecast that Seagate Technology will post 4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.07%. Seagate Technology’s dividend payout ratio is currently 95.09%.

In related news, Director Dambisa F. Moyo sold 8,715 shares of Seagate Technology stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $39.01, for a total value of $339,972.15. Following the completion of the sale, the director now owns 3,316 shares in the company, valued at approximately $129,357.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip G. Brace sold 5,403 shares of Seagate Technology stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $36.79, for a total transaction of $198,776.37. Following the completion of the sale, the insider now owns 33,069 shares of the company’s stock, valued at approximately $1,216,608.51. The disclosure for this sale can be found here. Insiders have sold a total of 42,481 shares of company stock valued at $1,655,011 in the last 90 days. Insiders own 0.87% of the company’s stock.

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About Seagate Technology

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.

Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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