Seagate Technology PLC (STX) Stock Rating Reaffirmed by Robert W. Baird
Seagate Technology PLC (NASDAQ:STX)‘s stock had its “neutral” rating reaffirmed by stock analysts at Robert W. Baird in a report released on Wednesday. They currently have a $37.00 target price on the data storage provider’s stock, up from their previous target price of $32.00. Robert W. Baird’s target price would indicate a potential upside of 5.02% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Morgan Stanley upped their target price on Seagate Technology PLC from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday. Brean Capital upped their target price on Seagate Technology PLC from $5.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday. Maxim Group upped their price target on shares of Seagate Technology PLC from $35.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $31.00 price target (up from $27.00) on shares of Seagate Technology PLC in a report on Tuesday, August 2nd. Finally, Vetr lowered shares of Seagate Technology PLC from a “strong-buy” rating to a “hold” rating and set a $23.50 price target on the stock. in a report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Seagate Technology PLC currently has an average rating of “Hold” and a consensus price target of $38.35.
Shares of Seagate Technology PLC (NASDAQ:STX) traded up 0.37% on Wednesday, hitting $35.23. The stock had a trading volume of 5,152,629 shares. The company has a 50-day moving average of $35.95 and a 200-day moving average of $28.99. The company 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 released its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm earned $0.77 EPS. The firm’s revenue was down 9.3% on a year-over-year basis. On average, equities analysts anticipate that Seagate Technology PLC will post $3.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Wednesday, September 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date of this dividend is Monday, September 19th. Seagate Technology PLC’s dividend payout ratio is currently 307.32%.
In other Seagate Technology PLC news, CFO David H. Morton, Jr. sold 1,716 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total value of $62,050.56. Following the sale, the chief financial officer now owns 20,782 shares of the company’s stock, valued at $751,477.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark Re sold 12,750 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $31.84, for a total transaction of $405,960.00. Following the completion of the sale, the senior vice president now directly owns 65,520 shares in the company, valued at approximately $2,086,156.80. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in STX. Charter Trust Co. increased its stake in shares of Seagate Technology PLC by 0.7% in the second quarter. Charter Trust Co. now owns 16,813 shares of the data storage provider’s stock valued at $410,000 after buying an additional 110 shares during the period. Capstone Asset Management Co. increased its position in shares of Seagate Technology PLC by 0.7% in the second quarter. Capstone Asset Management Co. now owns 15,845 shares of the data storage provider’s stock valued at $386,000 after buying an additional 115 shares during the last quarter. Integrated Wealth Management increased its position in shares of Seagate Technology PLC by 0.4% in the second quarter. Integrated Wealth Management now owns 30,422 shares of the data storage provider’s stock valued at $741,000 after buying an additional 133 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Seagate Technology PLC by 0.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,980 shares of the data storage provider’s stock valued at $559,000 after buying an additional 158 shares during the last quarter. Finally, Northeast Financial Consultants Inc increased its position in shares of Seagate Technology PLC by 0.8% in the second quarter. Northeast Financial Consultants Inc now owns 21,112 shares of the data storage provider’s stock valued at $514,000 after buying an additional 171 shares during the last quarter. 83.86% of the stock is currently owned by 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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