Seagate Technology PLC (NASDAQ:STX)‘s stock had its “buy” rating reaffirmed by research analysts at Brean Capital in a note issued to investors on Wednesday. They currently have a $42.00 price objective on the data storage provider’s stock. Brean Capital’s target price points to a potential upside of 11.14% from the company’s current price.
A number of other research analysts have also weighed in on STX. Jefferies Group lifted their target price on Seagate Technology PLC from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 2nd. Vetr lowered Seagate Technology PLC from a “strong-buy” rating to a “hold” rating and set a $23.50 target price for the company. in a report on Tuesday, June 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $24.00 target price on shares of Seagate Technology PLC in a report on Friday, June 17th. BMO Capital Markets reissued a “market perform” rating on shares of Seagate Technology PLC in a report on Wednesday, June 22nd. Finally, Zacks Investment Research raised Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.05.
Seagate Technology PLC (NASDAQ:STX) opened at 37.79 on Wednesday. Seagate Technology PLC has a 12-month low of $18.42 and a 12-month high of $49.50. The firm’s 50-day moving average is $34.62 and its 200 day moving average is $28.89. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 46.09 and a beta of 2.46.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.09. The business earned $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, equities analysts expect that Seagate Technology PLC will post $3.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st will be issued a $0.63 dividend. The ex-dividend date is Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.67%. Seagate Technology PLC’s dividend payout ratio (DPR) is 307.32%.
In other news, CFO David H. Morton, Jr. sold 1,716 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $36.16, for a total value of $62,050.56. Following the sale, the chief financial officer now directly owns 20,782 shares of the company’s stock, valued at $751,477.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mark Re sold 3,082 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $32.50, for a total value of $100,165.00. Following the completion of the sale, the senior vice president now directly owns 56,623 shares in the company, valued at $1,840,247.50. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Seagate Technology PLC during the second quarter worth approximately $294,000. Kentucky Retirement Systems bought a new stake in Seagate Technology PLC during the second quarter worth approximately $618,000. Mason Street Advisors LLC bought a new stake in Seagate Technology PLC during the second quarter worth approximately $979,000. Northwestern Mutual Wealth Management Co. boosted its stake in Seagate Technology PLC by 255.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,595 shares of the data storage provider’s stock worth $209,000 after buying an additional 6,174 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Seagate Technology PLC by 6.5% in the second quarter. IFP Advisors Inc now owns 12,095 shares of the data storage provider’s stock worth $295,000 after buying an additional 739 shares in the last quarter. 83.86% of the stock is currently owned by hedge funds and other 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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