Seagate Technology PLC (NASDAQ:STX)‘s stock had its “neutral” rating reiterated by analysts at Robert W. Baird in a report released on Wednesday. They currently have a $37.00 target price on the data storage provider’s stock, up from their prior target price of $32.00. Robert W. Baird’s price target would suggest a potential upside of 5.17% from the company’s current price.
A number of other research firms also recently weighed in on STX. Royal Bank Of Canada upped their target price on Seagate Technology PLC from $34.00 to $40.00 and gave the stock a “sector perform” rating in a report on Monday, October 3rd. RBC Capital Markets reiterated a “sector perform” rating and set a $40.00 target price (up previously from $34.00) on shares of Seagate Technology PLC in a report on Monday, October 3rd. BTIG Research reiterated a “buy” rating and set a $45.00 target price (up previously from $36.00) on shares of Seagate Technology PLC in a report on Thursday, October 6th. Vetr downgraded Seagate Technology PLC from a “buy” rating to a “hold” rating and set a $38.84 target price on the stock. in a report on Tuesday, September 27th. Finally, Zacks Investment Research upgraded Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, October 5th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.35.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 35.18 on Wednesday. Seagate Technology PLC has a 12 month low of $18.42 and a 12 month high of $41.83. The stock has a market capitalization of $10.56 billion, a P/E ratio of 42.90 and a beta of 2.50. The company’s 50 day moving average price is $36.14 and its 200-day moving average price is $29.07.
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, topping analysts’ consensus estimates 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts predict that Seagate Technology PLC will post $3.04 earnings per share for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.16%. Seagate Technology PLC’s payout ratio is 307.32%.
In related news, SVP Mark Re sold 12,750 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $31.84, for a total value of $405,960.00. Following the completion of the transaction, the senior vice president now owns 65,520 shares of the company’s stock, valued at approximately $2,086,156.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David H. Morton, Jr. sold 2,773 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $35.98, for a total transaction of $99,772.54. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cowen Prime Services LLC acquired a new position in shares of Seagate Technology PLC during the second quarter worth approximately $105,000. Glenmede Trust Co. NA increased 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 increased 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 acquired a new position in shares of Seagate Technology PLC during the second quarter worth approximately $146,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Seagate Technology PLC during the first quarter worth approximately $214,000. 83.86% of the stock is 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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