Seagate Technology PLC’s (STX) Neutral Rating Reaffirmed at Citigroup Inc.
Seagate Technology PLC (NASDAQ:STX)‘s stock had its “neutral” rating restated by equities research analysts at Citigroup Inc. in a research report issued to clients and investors on Thursday.
Several other equities analysts also recently commented on STX. Jefferies Group upped their price target on shares of Seagate Technology PLC from $38.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. FBN Securities upped their price target on shares of Seagate Technology PLC from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Tuesday. Brean Capital reiterated a “buy” rating and set a $30.00 price target on shares of Seagate Technology PLC in a report on Thursday, June 30th. Seaport Global Securities upped their price target on shares of Seagate Technology PLC to $44.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, July 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 issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $38.35.
Seagate Technology PLC (NASDAQ:STX) traded down 1.11% during trading on Thursday, hitting $34.84. The stock had a trading volume of 2,668,032 shares. The company has a market capitalization of $10.46 billion, a P/E ratio of 42.49 and a beta of 2.50. The stock’s 50-day moving average price is $36.04 and its 200-day moving average price is $29.03. Seagate Technology PLC has a 1-year low of $18.42 and a 1-year high of $44.16.
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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 for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. 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 previous year, the firm posted $0.77 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. Analysts expect that Seagate Technology PLC will post $3.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Wednesday, September 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.52 annualized dividend and a yield of 7.15%. Seagate Technology PLC’s dividend payout ratio is presently 307.32%.
In other Seagate Technology PLC news, SVP Mark Re sold 3,082 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $32.50, for a total transaction of $100,165.00. Following the transaction, the senior vice president now directly owns 56,623 shares of the company’s stock, valued at $1,840,247.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frank Biondi sold 1,251 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $32.45, for a total transaction of $40,594.95. Following the transaction, the director now directly owns 6,433 shares in the company, valued at $208,750.85. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Cowen Prime Services LLC bought a new position in Seagate Technology PLC during the second quarter valued at about $105,000. Glenmede Trust Co. NA increased its position 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 during the last quarter. Advisory Services Network LLC increased its position 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 during the last quarter. Tredje AP fonden bought a new position in Seagate Technology PLC during the second quarter valued at about $146,000. Finally, RidgeWorth Capital Management LLC increased its position 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 valued at $157,000 after buying an additional 827 shares during the last quarter. 83.86% of the stock is currently 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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