Seagate Technology PLC (NASDAQ:STX)‘s stock had its “sell” rating reiterated by equities researchers at Summit Redstone in a research report issued on Saturday.

STX has been the subject of a number of other research reports. Cowen and Company restated a “market perform” rating and set a $45.00 target price (down previously from $46.00) on shares of Seagate Technology PLC in a research note on Wednesday, April 26th. Zacks Investment Research cut shares of Seagate Technology PLC from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 27th. BTIG Research restated a “buy” rating and set a $55.00 target price on shares of Seagate Technology PLC in a research note on Thursday, April 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective (down previously from $46.00) on shares of Seagate Technology PLC in a research note on Saturday, April 29th. Finally, Jefferies Group LLC dropped their price objective on shares of Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $43.48.

Shares of Seagate Technology PLC (STX) traded up 0.41% on Friday, hitting $39.58. 3,256,610 shares of the stock were exchanged. The company has a 50-day moving average price of $40.54 and a 200-day moving average price of $43.52. The firm has a market capitalization of $11.74 billion, a PE ratio of 16.29 and a beta of 1.73. Seagate Technology PLC has a one year low of $30.09 and a one year high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.04. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Seagate Technology PLC had a net margin of 6.61% and a return on equity of 79.83%. Seagate Technology PLC’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. Equities research analysts expect that Seagate Technology PLC will post $4.45 earnings per share for the current year.

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In other news, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $43.26, for a total value of $131,510.40. Following the sale, the chief financial officer now directly owns 9,063 shares of the company’s stock, valued at approximately $392,065.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Mark Re sold 9,607 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $43.47, for a total transaction of $417,616.29. Following the completion of the sale, the senior vice president now directly owns 40,470 shares in the company, valued at $1,759,230.90. The disclosure for this sale can be found here. Insiders have sold a total of 116,456 shares of company stock worth $5,715,313 over the last three months. Insiders own 1.50% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. raised its stake in Seagate Technology PLC by 12.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,726 shares of the data storage provider’s stock worth $125,000 after buying an additional 300 shares in the last quarter. First Quadrant L P CA purchased a new stake in Seagate Technology PLC during the second quarter worth approximately $153,000. Global X Management Co. LLC raised its stake in Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after buying an additional 789 shares in the last quarter. Ledyard National Bank raised its stake in Seagate Technology PLC by 1,318.3% in the first quarter. Ledyard National Bank now owns 4,255 shares of the data storage provider’s stock worth $195,000 after buying an additional 3,955 shares in the last quarter. Finally, Sigma Investment Counselors Inc. purchased a new stake in Seagate Technology PLC during the first quarter worth approximately $201,000. 86.60% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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