Seagate Technology PLC (STX) Receives Average Rating of “Hold” from Brokerages
Seagate Technology PLC (NASDAQ:STX) has received an average recommendation of “Hold” from the thirty-one analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $44.34.
Several equities analysts have weighed in on STX shares. Susquehanna Bancshares Inc restated a “neutral” rating on shares of Seagate Technology PLC in a report on Wednesday, April 12th. Needham & Company LLC raised their target price on Seagate Technology PLC from $55.00 to $57.00 and gave the company a “strong-buy” rating in a report on Thursday, April 27th. Royal Bank Of Canada cut their target price on Seagate Technology PLC from $50.00 to $45.00 and set a “sector perform” rating on the stock in a report on Thursday, April 27th. Aegis started coverage on Seagate Technology PLC in a report on Tuesday, June 13th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Longbow Research upgraded Seagate Technology PLC from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.42 to $55.00 in a report on Tuesday, April 11th.
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In other Seagate Technology PLC news, SVP Mark Re sold 9,607 shares of Seagate Technology PLC stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $43.47, for a total transaction of $417,616.29. Following the sale, the senior vice president now directly owns 40,470 shares of the company’s stock, valued at $1,759,230.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen J. Luczo sold 100,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $50.00, for a total value of $5,000,000.00. Following the sale, the chief executive officer now directly owns 27,188 shares in the company, valued at $1,359,400. The disclosure for this sale can be found here. Insiders have sold 116,456 shares of company stock worth $5,715,313 over the last ninety days. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Achmea Investment Management B.V. acquired a new position in shares of Seagate Technology PLC during the first quarter valued at approximately $2,546,000. Meridian Wealth Management LLC increased its position in shares of Seagate Technology PLC by 5.6% in the first quarter. Meridian Wealth Management LLC now owns 7,680 shares of the data storage provider’s stock valued at $353,000 after buying an additional 405 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Seagate Technology PLC during the first quarter valued at approximately $321,000. Janus Capital Management LLC increased its position in shares of Seagate Technology PLC by 107.7% in the first quarter. Janus Capital Management LLC now owns 792,554 shares of the data storage provider’s stock valued at $36,402,000 after buying an additional 411,000 shares during the last quarter. Finally, First Financial Equity Corporation acquired a new position in shares of Seagate Technology PLC during the first quarter valued at approximately $269,000. 87.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of Seagate Technology PLC (STX) opened at 42.01 on Friday. The firm’s 50-day moving average price is $42.54 and its 200 day moving average price is $43.54. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 17.29 and a beta of 1.71. Seagate Technology PLC has a 52 week low of $20.77 and a 52 week high of $50.96. Seagate Technology PLC also was the recipient of some unusual options trading on Wednesday. Stock traders purchased 1,048 put options on the company. This is an increase of approximately 194% compared to the average daily volume of 356 put options.
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings data on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.04. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Seagate Technology PLC had a return on equity of 79.83% and a net margin of 6.61%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. On average, analysts anticipate that Seagate Technology PLC will post $4.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 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 6.00%. The ex-dividend date of this dividend is Monday, June 19th. Seagate Technology PLC’s payout ratio is 103.70%.
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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