Seagate Technology PLC (NASDAQ:STX) had its price objective hoisted by Royal Bank Of Canada from $34.00 to $40.00 in a research report report published on Monday morning. They currently have a sector perform rating on the data storage provider’s stock.
A number of other equities analysts have also recently commented on the company. Barclays PLC reiterated an equal weight rating and issued a $40.00 target price (up previously from $36.00) on shares of Seagate Technology PLC in a report on Thursday, September 29th. Brean Capital reissued a buy rating and set a $42.00 price target on shares of Seagate Technology PLC in a research note on Wednesday, September 28th. Vetr lowered Seagate Technology PLC from a buy rating to a hold rating and set a $38.84 price target for the company. in a research note on Tuesday, September 27th. Zacks Investment Research lowered Seagate Technology PLC from a buy rating to a hold rating in a research note on Wednesday, September 14th. Finally, Bank of America Corp. reissued a sell rating and set a $28.00 price target on shares of Seagate Technology PLC in a research note on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $34.49.
Seagate Technology PLC (NASDAQ:STX) traded up 0.47% on Monday, reaching $38.59. The company’s stock had a trading volume of 1,052,181 shares. Seagate Technology PLC has a one year low of $18.42 and a one year high of $49.50. The stock has a market cap of $11.58 billion, a P/E ratio of 47.06 and a beta of 2.50. The stock has a 50-day moving average of $35.01 and a 200-day moving average of $28.85.
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.09. The business earned $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. On average, analysts predict that Seagate Technology PLC will post $3.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors 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 6.56%. Seagate Technology PLC’s payout ratio is 307.32%.
In other Seagate Technology PLC news, SVP Mark Re sold 3,082 shares of the stock in a transaction that occurred on 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 owns 56,623 shares of the company’s stock, valued at $1,840,247.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David H. Morton, Jr. sold 1,716 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total value of $62,050.56. Following the transaction, the chief financial officer now directly owns 20,782 shares of the company’s stock, valued at approximately $751,477.12. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Cowen Prime Services LLC purchased a new position in shares of Seagate Technology PLC during the second quarter worth approximately $105,000. Glenmede Trust Co. NA boosted its position 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 worth $113,000 after buying an additional 1,079 shares during the last quarter. Advisory Services Network LLC boosted its position 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 worth $136,000 after buying an additional 1,300 shares during the last quarter. Tredje AP fonden purchased a new position in shares of Seagate Technology PLC during the second quarter worth approximately $146,000. Finally, RidgeWorth Capital Management LLC boosted its position in shares of Seagate Technology PLC by 14.5% in the second quarter. RidgeWorth Capital Management LLC now owns 6,545 shares of the data storage provider’s stock worth $157,000 after buying an additional 827 shares during the last quarter. 83.86% of the stock is owned by institutional investors and hedge funds.
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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