An issue of Seagate Technology PLC (NASDAQ:STX) bonds fell 1.5% against their face value during trading on Tuesday after Loop Capital lowered their price target on the stock to $60.00. The high-yield debt issue has a 4.75% coupon and is set to mature on January 1, 2025. The debt is now trading at $91.50 and was trading at $94.82 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
A number of other equities research analysts also recently weighed in on the company. BidaskClub raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, August 7th. Zacks Investment Research raised Seagate Technology from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Tuesday, July 31st. Susquehanna Bancshares reaffirmed a “negative” rating and set a $32.00 price objective (down previously from $53.00) on shares of Seagate Technology in a research report on Tuesday, October 23rd. Finally, ValuEngine downgraded Seagate Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $53.43.
In other Seagate Technology news, Director Holdings L.P. Valueact purchased 125,000 shares of the stock in a transaction on Thursday, August 2nd. The stock was acquired at an average price of $52.87 per share, with a total value of $6,608,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kathryn R. Scolnick sold 10,577 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $53.12, for a total value of $561,850.24. Following the completion of the sale, the chief financial officer now directly owns 759 shares of the company’s stock, valued at approximately $40,318.08. The disclosure for this sale can be found here. In the last three months, insiders acquired 5,707,648 shares of company stock valued at $295,778,805 and sold 46,086 shares valued at $2,529,660. 1.00% of the stock is currently owned by company insiders.
The company has a market capitalization of $11.17 billion, a PE ratio of 6.99, a PEG ratio of 0.50 and a beta of 1.70. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.35 and a quick ratio of 1.02.
About Seagate Technology (NASDAQ:STX)
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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