Benchmark Co. upgraded shares of Seagate Technology PLC (NASDAQ:STX) from a hold rating to a buy rating in a report published on Tuesday. They currently have $45.00 price objective on the data storage provider’s stock, up from their previous price objective of $32.00.
Other research analysts have also issued reports about the company. Vetr lowered Seagate Technology PLC from a strong-buy rating to a hold rating and set a $23.50 price target for the company. in a research report on Tuesday, June 14th. Brean Capital restated a buy rating on shares of Seagate Technology PLC in a research report on Wednesday, June 15th. Royal Bank Of Canada restated a sector perform rating and set a $24.00 price target on shares of Seagate Technology PLC in a research report on Friday, June 17th. BMO Capital Markets restated a market perform rating on shares of Seagate Technology PLC in a research report on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded Seagate Technology PLC from a strong sell rating to a hold rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Seagate Technology PLC currently has an average rating of Hold and an average target price of $38.06.
Seagate Technology PLC (NASDAQ:STX) traded up 1.68% during mid-day trading on Tuesday, reaching $35.69. The company’s stock had a trading volume of 1,562,754 shares. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 43.52 and a beta of 2.50. Seagate Technology PLC has a one year low of $18.42 and a one year high of $49.26. The stock has a 50-day moving average price of $35.95 and a 200-day moving average price of $28.99.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.09. The company 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 quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Equities research analysts forecast that Seagate Technology PLC will post $3.04 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 7.18%. The ex-dividend date is Monday, September 19th. 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 business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $36.16, for a total transaction of $62,050.56. Following the sale, the chief financial officer now owns 20,782 shares of the company’s stock, valued at approximately $751,477.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Biondi sold 1,251 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $32.45, for a total value of $40,594.95. Following the sale, the director now directly owns 6,433 shares in the company, valued at approximately $208,750.85. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Aperio Group LLC raised its stake in Seagate Technology PLC by 20.7% in the first quarter. Aperio Group LLC now owns 77,513 shares of the data storage provider’s stock worth $2,670,000 after buying an additional 13,282 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its stake in Seagate Technology PLC by 6.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 20,350 shares of the data storage provider’s stock worth $701,000 after buying an additional 1,300 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Seagate Technology PLC during the first quarter worth about $214,000. TIAA CREF Investment Management LLC raised its stake in Seagate Technology PLC by 2.1% in the first quarter. TIAA CREF Investment Management LLC now owns 103,276 shares of the data storage provider’s stock worth $3,558,000 after buying an additional 2,145 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in Seagate Technology PLC by 1.4% in the first quarter. Teachers Advisors Inc. now owns 49,446 shares of the data storage provider’s stock worth $1,703,000 after buying an additional 694 shares during the last quarter. 83.86% of the stock is currently owned by institutional investors and hedge funds.
About Seagate Technology PLC
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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