Seagate Technology PLC (STX) Stock Rating Reaffirmed by Citigroup Inc.
Seagate Technology PLC (NASDAQ:STX)‘s stock had its “neutral” rating reissued by analysts at Citigroup Inc. in a research report issued to clients and investors on Thursday.
A number of other research firms have also commented on STX. Maxim Group raised their price target on Seagate Technology PLC from $25.00 to $35.00 and gave the stock a “hold” rating in a research report on Tuesday, July 12th. Jefferies Group lifted their target price on Seagate Technology PLC from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. RBC Capital Markets reissued a “sector perform” rating and issued a $31.00 target price (up previously from $27.00) on shares of Seagate Technology PLC in a research report on Tuesday, August 2nd. Susquehanna reissued a “neutral” rating and issued a $32.00 target price (up previously from $30.00) on shares of Seagate Technology PLC in a research report on Friday, August 19th. Finally, Brean Capital reissued a “buy” rating on shares of Seagate Technology PLC in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $38.35.
Shares of Seagate Technology PLC (NASDAQ:STX) traded down 1.774% on Thursday, reaching $34.605. 2,472,558 shares of the company’s stock were exchanged. The company has a market capitalization of $10.39 billion, a P/E ratio of 42.201 and a beta of 2.50. Seagate Technology PLC has a 12 month low of $18.42 and a 12 month high of $44.16. The firm’s 50 day moving average price is $36.04 and its 200-day moving average price is $29.03.
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Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (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 firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the business earned $0.77 earnings per share. The company’s revenue was down 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Seagate Technology PLC will post $3.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st will be issued a dividend of $0.63 per share. 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 Seagate Technology PLC news, SVP Mark Re sold 5,800 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $33.58, for a total value of $194,764.00. Following the sale, the senior vice president now owns 46,970 shares in the company, valued at approximately $1,577,252.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the chief financial officer now owns 20,782 shares in the company, valued at approximately $751,477.12. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Cowen Prime Services LLC bought 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 bought a new stake in Seagate Technology PLC during the second quarter worth approximately $146,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Seagate Technology PLC during the first quarter worth approximately $214,000. 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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