RBC Capital Markets reissued their sector perform rating on shares of Seagate Technology PLC (NASDAQ:STX) in a report released on Monday. RBC Capital Markets currently has a $40.00 price target on the data storage provider’s stock, up from their prior price target of $34.00.
STX has been the subject of several other reports. Craig Hallum upped their target price on Seagate Technology PLC from $37.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, September 7th. Vetr raised Seagate Technology PLC from a strong sell rating to a sell rating and set a $31.33 price target for the company in a research report on Tuesday, September 6th. Bank of America Corp. reissued a sell rating and issued a $28.00 price target on shares of Seagate Technology PLC in a research report on Tuesday, September 13th. Royal Bank Of Canada boosted their price target on Seagate Technology PLC from $34.00 to $40.00 and gave the stock a sector perform rating in a research report on Monday. Finally, Brean Capital reissued a buy rating and issued a $42.00 price target on shares of Seagate Technology PLC in a research report on Wednesday, September 28th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Seagate Technology PLC presently has a consensus rating of Hold and a consensus target price of $35.27.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 37.81 on Monday. The stock has a market capitalization of $11.35 billion, a PE ratio of 46.11 and a beta of 2.50. Seagate Technology PLC has a 52-week low of $18.42 and a 52-week high of $49.50. The company’s 50 day moving average price is $35.53 and its 200 day moving average price is $29.00.
Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.09. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The business earned $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the business earned $0.77 EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Seagate Technology PLC will post $3.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date is Monday, September 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is currently 307.32%.
In related news, SVP Mark Re sold 5,800 shares of the business’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $33.58, for a total value of $194,764.00. Following the transaction, the senior vice president now owns 46,970 shares in the company, valued at approximately $1,577,252.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David H. Morton, Jr. sold 1,716 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total value of $62,050.56. Following the completion of the transaction, the chief financial officer now owns 20,782 shares in the company, valued at approximately $751,477.12. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of STX. Cowen Prime Services LLC bought a new position in shares of Seagate Technology PLC during the second quarter valued at about $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 valued at $113,000 after buying an additional 1,079 shares during the period. 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 valued at $136,000 after buying an additional 1,300 shares during the period. Tredje AP fonden bought a new position in shares of Seagate Technology PLC during the second quarter valued at about $146,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Seagate Technology PLC during the first quarter valued at about $214,000. Hedge funds and other institutional investors own 83.86% 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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