Seagate Technology PLC (STX) Earns “Neutral” Rating from Robert W. Baird
Seagate Technology PLC (NASDAQ:STX)‘s stock had its “neutral” rating reiterated by investment analysts at Robert W. Baird in a note issued to investors on Wednesday. They currently have a $37.00 price target on the data storage provider’s stock, up from their previous price target of $32.00. Robert W. Baird’s price objective would indicate a potential upside of 5.02% from the company’s previous close.
STX has been the subject of a number of other research reports. Stifel Nicolaus restated a “hold” rating and set a $35.00 target price on shares of Seagate Technology PLC in a research note on Tuesday, September 13th. Argus restated a “hold” rating on shares of Seagate Technology PLC in a research note on Monday, July 18th. Jefferies Group restated a “buy” rating and set a $26.00 target price on shares of Seagate Technology PLC in a research note on Tuesday, July 12th. Morgan Stanley raised their target price on shares of Seagate Technology PLC from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Bank of America Corp. restated a “sell” rating and set a $28.00 target price on shares of Seagate Technology PLC in a research note on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.35.
Seagate Technology PLC (NASDAQ:STX) traded up 0.37% during trading on Wednesday, reaching $35.23. 5,152,629 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $35.95 and its 200 day moving average price is $28.99. The firm has a market cap of $10.57 billion, a P/E ratio of 42.96 and a beta of 2.50. Seagate Technology PLC has a 52-week low of $18.42 and a 52-week high of $49.26.
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Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The company earned $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. Seagate Technology PLC’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. Equities research analysts anticipate that Seagate Technology PLC will post $3.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st will be given 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 7.15%. Seagate Technology PLC’s dividend payout ratio (DPR) is currently 307.32%.
In other news, Director Frank Biondi sold 1,251 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $32.45, for a total value of $40,594.95. Following the transaction, the director now owns 6,433 shares in the company, valued at approximately $208,750.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark Re sold 3,082 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $32.50, for a total transaction of $100,165.00. Following the completion of the transaction, the senior vice president now owns 56,623 shares in the company, valued at approximately $1,840,247.50. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cowen Prime Services LLC bought a new stake in Seagate Technology PLC during the second quarter valued at $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 valued at $113,000 after buying an additional 1,079 shares in the last quarter. 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 valued at $136,000 after buying an additional 1,300 shares in the last quarter. Tredje AP fonden acquired a new stake in shares of Seagate Technology PLC during the second quarter worth approximately $146,000. Finally, RidgeWorth Capital Management LLC raised its stake in shares of 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. Hedge funds and other institutional investors own 83.86% of the company’s stock.
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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