Stifel Nicolaus restated their hold rating on shares of Seagate Technology (NASDAQ:STX) in a research note issued to investors on Thursday, MarketBeat reports. Stifel Nicolaus currently has a $49.00 target price on the data storage provider’s stock.
Several other research firms have also commented on STX. Guggenheim reaffirmed a hold rating on shares of Seagate Technology in a report on Monday, January 29th. Cowen set a $53.00 price objective on Seagate Technology and gave the company a hold rating in a report on Monday, January 29th. Mizuho reissued a neutral rating and issued a $53.00 price objective (up from $39.00) on shares of Seagate Technology in a report on Monday, January 29th. Loop Capital raised their price objective on Seagate Technology to $65.00 and gave the company a buy rating in a report on Tuesday, January 30th. Finally, Maxim Group raised their price objective on Seagate Technology to $52.00 and gave the company a neutral rating in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $49.92.
Shares of Seagate Technology (NASDAQ STX) opened at $53.29 on Thursday. The company has a market capitalization of $15,180.00, a PE ratio of 24.33, a P/E/G ratio of 0.70 and a beta of 1.88. Seagate Technology has a 1-year low of $30.60 and a 1-year high of $56.45. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.52 annualized dividend and a dividend yield of 4.73%. Seagate Technology’s dividend payout ratio (DPR) is presently 115.07%.
In related news, Director Chong Sup Park sold 4,026 shares of Seagate Technology stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $54.22, for a total transaction of $218,289.72. Following the transaction, the director now owns 8,715 shares in the company, valued at $472,527.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP James J. Murphy sold 14,175 shares of Seagate Technology stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $55.16, for a total value of $781,893.00. Following the transaction, the executive vice president now owns 24,585 shares in the company, valued at approximately $1,356,108.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 785,520 shares of company stock worth $41,875,961. Company insiders own 0.87% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Assetmark Inc. lifted its position in Seagate Technology by 43.5% during the third quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock worth $4,835,000 after buying an additional 44,171 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new position in Seagate Technology during the fourth quarter worth approximately $346,000. Iat Reinsurance Co. LTD. purchased a new position in Seagate Technology during the third quarter worth approximately $12,455,000. Bristol Advisors LLC purchased a new position in Seagate Technology during the fourth quarter worth approximately $711,000. Finally, Eagle Asset Management Inc. lifted its position in Seagate Technology by 12.3% during the fourth quarter. Eagle Asset Management Inc. now owns 887,990 shares of the data storage provider’s stock worth $37,517,000 after buying an additional 97,072 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.
Seagate Technology 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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