Seagate Technology PLC (NASDAQ:STX)‘s stock had its “sector perform” rating reissued by stock analysts at FBN Securities in a research report issued on Monday. They presently have a $40.00 target price on the data storage provider’s stock, up from their previous target price of $32.00. FBN Securities’ price objective points to a potential upside of 2.99% from the company’s current price.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Seagate Technology PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Mizuho reiterated a “hold” rating and set a $36.00 price target on shares of Seagate Technology PLC in a research note on Monday, October 9th. Royal Bank Of Canada reiterated a “hold” rating and set a $35.00 price target on shares of Seagate Technology PLC in a research note on Friday, September 1st. Barclays PLC lowered shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $49.00 to $40.00 in a research note on Thursday, July 13th. Finally, Citigroup Inc. dropped their price target on shares of Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 18th. Four research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $41.57.
Shares of Seagate Technology PLC (STX) opened at 38.84 on Monday. The firm’s 50-day moving average price is $33.63 and its 200 day moving average price is $38.04. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $50.96. The firm has a market capitalization of $11.18 billion, a P/E ratio of 15.05 and a beta of 1.72.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology PLC had a net margin of 7.41% and a return on equity of 84.50%. Seagate Technology PLC’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. Analysts anticipate that Seagate Technology PLC will post $3.63 earnings per share for the current fiscal year.
In related news, insider Philip G. Brace purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.87% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC increased its position in Seagate Technology PLC by 29.2% during the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after purchasing an additional 789 shares during the last quarter. WFG Advisors LP increased its position in Seagate Technology PLC by 16,536.4% during the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 3,638 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Seagate Technology PLC during the second quarter worth approximately $150,000. First Quadrant L P CA acquired a new position in Seagate Technology PLC during the second quarter worth approximately $153,000. Finally, Private Advisory Group LLC acquired a new position in Seagate Technology PLC during the first quarter worth approximately $206,000. 89.94% 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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