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Seagate Technology PLC (NYSE:STX) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.

Shares of Seagate Technology PLC (NYSE:STX) opened at 53.39 on Monday. Seagate Technology PLC has a 1-year low of $33.22 and a 1-year high of $62.76. The stock has a 50-day moving average of $53.06 and a 200-day moving average of $51.5. The company has a market cap of $17.552 billion and a P/E ratio of 12.14.

Seagate Technology PLC (NYSE:STX) last issued its quarterly earnings data on Monday, January 27th. The company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by $0.07. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Seagate Technology PLC will post $5.11 earnings per share for the current fiscal year.

In other Seagate Technology PLC news, CEO Stephen Luczo sold 100,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $57.00, for a total transaction of $5,700,000.00. Following the transaction, the chief executive officer now directly owns 112,130 shares in the company, valued at approximately $6,391,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC reiterated a “buy” rating on shares of Seagate Technology PLC in a research note on Tuesday, April 1st. Separately, analysts at Zacks downgraded shares of Seagate Technology PLC from an “outperform” rating to a “neutral” rating in a research note on Friday, February 21st. They now have a $53.00 price target on the stock. Finally, analysts at RBC Capital upgraded shares of Seagate Technology PLC from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 21st. They now have a $60.00 price target on the stock, up previously from $59.00. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $57.00.

Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.

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