Seagate Technology PLC (STX) PT Raised to $38.00
Seagate Technology PLC (NASDAQ:STX) had its price target hoisted by research analysts at FBN Securities from $33.00 to $38.00 in a research report issued on Tuesday. The brokerage presently has a “sector perform” rating on the data storage provider’s stock. FBN Securities’ price target suggests a potential upside of 0.08% from the company’s current price.
A number of other research firms also recently commented on STX. Royal Bank Of Canada boosted their price objective on Seagate Technology PLC from $34.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Monday, October 3rd. RBC Capital Markets reissued a “sector perform” rating and issued a $40.00 price objective (up previously from $34.00) on shares of Seagate Technology PLC in a research note on Monday, October 3rd. BTIG Research reissued a “buy” rating and issued a $45.00 price objective (up previously from $36.00) on shares of Seagate Technology PLC in a research note on Thursday, October 6th. Vetr downgraded Seagate Technology PLC from a “buy” rating to a “hold” rating and set a $38.84 price objective on the stock. in a research note on Tuesday, September 27th. Finally, Zacks Investment Research raised Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.79.
Seagate Technology PLC (NASDAQ:STX) traded down 7.24% during trading on Tuesday, reaching $35.22. 10,028,950 shares of the company’s stock were exchanged. Seagate Technology PLC has a 52 week low of $18.42 and a 52 week high of $49.43. The stock has a market capitalization of $10.57 billion, a PE ratio of 42.95 and a beta of 2.50. The stock has a 50-day moving average of $35.86 and a 200-day moving average of $28.94.
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Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, August 2nd. The data storage provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Seagate Technology PLC will post $3.04 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st will be issued 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 dividend yield of 6.64%. Seagate Technology PLC’s payout ratio is presently 307.32%.
In other news, Director Frank Biondi sold 1,251 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $32.45, for a total value of $40,594.95. Following the completion of the transaction, the director now directly owns 6,433 shares of the company’s stock, valued at approximately $208,750.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mark Re sold 12,750 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was 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 directly owns 65,520 shares of the company’s stock, valued at $2,086,156.80. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Cowen Prime Services LLC acquired a new stake in Seagate Technology PLC during the second quarter worth approximately $105,000. Glenmede Trust Co. NA raised its stake in 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 period. Advisory Services Network LLC raised its stake in 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 period. Tredje AP fonden acquired a new stake in Seagate Technology PLC during the second quarter worth approximately $146,000. Finally, RidgeWorth Capital Management LLC raised its stake in Seagate Technology PLC by 14.5% in the second quarter. RidgeWorth Capital Management LLC now owns 6,545 shares of the data storage provider’s stock worth $157,000 after buying an additional 827 shares during the period. 83.86% of the stock is owned by institutional investors and hedge funds.
About Seagate Technology PLC
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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