A number of other equities analysts have also recently issued reports on STX. Brean Capital restated a buy rating on shares of Seagate Technology PLC in a 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 report on Friday, June 17th. BMO Capital Markets restated a market perform rating on shares of Seagate Technology PLC in a report on Wednesday, June 22nd. Vetr cut Seagate Technology PLC from a hold rating to a sell rating and set a $23.50 price target on the stock. in a report on Thursday, June 23rd. Finally, Zacks Investment Research upgraded Seagate Technology PLC from a strong sell rating to a hold rating in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Seagate Technology PLC has a consensus rating of Hold and a consensus price target of $38.35.
Seagate Technology PLC (NASDAQ:STX) traded up 0.63% during mid-day trading on Thursday, hitting $35.40. 2,603,091 shares of the stock were exchanged. The company has a market capitalization of $10.62 billion, a PE ratio of 43.17 and a beta of 2.50. The stock has a 50 day moving average price of $36.14 and a 200 day moving average price of $29.07. Seagate Technology PLC has a 1-year low of $18.42 and a 1-year high of $41.83.
Seagate Technology PLC (NASDAQ:STX) last released its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The business earned $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, equities analysts anticipate that Seagate Technology PLC will post $3.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a yield of 7.16%. Seagate Technology PLC’s dividend payout ratio (DPR) is currently 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 transaction, 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 Securities & Exchange Commission, which is available through this link. Also, SVP Mark Re sold 3,082 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $32.50, for a total value of $100,165.00. Following the transaction, 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.
Several institutional investors have recently bought and sold shares of the stock. MSI Financial Services Inc boosted its position in Seagate Technology PLC by 9.7% in the third quarter. MSI Financial Services Inc now owns 7,648 shares of the data storage provider’s stock valued at $295,000 after buying an additional 678 shares during the period. Capstone Asset Management Co. boosted its position in Seagate Technology PLC by 3.9% in the third quarter. Capstone Asset Management Co. now owns 16,465 shares of the data storage provider’s stock valued at $635,000 after buying an additional 620 shares during the period. Fox Run Management L.L.C. acquired a new position in Seagate Technology PLC during the third quarter valued at about $1,052,000. FCM Investments TX boosted its position in Seagate Technology PLC by 14.1% in the third quarter. FCM Investments TX now owns 19,060 shares of the data storage provider’s stock valued at $735,000 after buying an additional 2,349 shares during the period. Finally, Eagle Asset Management Inc. boosted its position in Seagate Technology PLC by 10.3% in the third quarter. Eagle Asset Management Inc. now owns 784,116 shares of the data storage provider’s stock valued at $30,227,000 after buying an additional 73,220 shares during the period. 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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