Research analysts at Loop Capital initiated coverage on shares of Seagate Technology PLC (NASDAQ:STX) in a research note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating on the data storage provider’s stock.

STX has been the topic of several other reports. Cowen and Company restated a “market perform” rating and set a $45.00 target price (down from $46.00) on shares of Seagate Technology PLC in a report on Wednesday, April 26th. Zacks Investment Research downgraded shares of Seagate Technology PLC from a “strong-buy” rating to a “hold” rating in a report 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 report on Thursday, April 6th. Stifel Nicolaus restated a “hold” rating and set a $45.00 target price (down from $46.00) on shares of Seagate Technology PLC in a report on Saturday, April 29th. Finally, Jefferies Group LLC decreased their price target 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 analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Seagate Technology PLC presently has an average rating of “Hold” and an average target price of $43.48.

Shares of Seagate Technology PLC (NASDAQ STX) traded up 0.45% on Monday, reaching $39.76. 6,276,715 shares of the company were exchanged. The stock has a 50 day moving average price of $40.54 and a 200-day moving average price of $43.52. Seagate Technology PLC has a 12 month low of $30.09 and a 12 month high of $50.96. The stock has a market capitalization of $11.79 billion, a P/E ratio of 16.36 and a beta of 1.74.

Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Wednesday, April 26th. The data storage provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.06 by $0.04. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.71 billion. Seagate Technology PLC had a net margin of 6.61% and a return on equity of 79.83%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. On average, equities analysts expect that Seagate Technology PLC will post $4.45 EPS for the current fiscal year.

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In other Seagate Technology PLC news, CFO David H. Morton, Jr. sold 3,040 shares of Seagate Technology PLC stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $43.26, for a total value of $131,510.40. Following the transaction, the chief financial officer now owns 9,063 shares in the company, valued at $392,065.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Luczo sold 100,000 shares of Seagate Technology PLC stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 27,188 shares in the company, valued at approximately $1,359,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,456 shares of company stock valued at $5,715,313. 1.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Westbourne Investment Advisors Inc. boosted its position in Seagate Technology PLC by 15.2% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 51,682 shares of the data storage provider’s stock worth $1,895,000 after buying an additional 6,825 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in Seagate Technology PLC during the fourth quarter worth about $2,933,000. Geode Capital Management LLC boosted its position in Seagate Technology PLC by 4.0% in the first quarter. Geode Capital Management LLC now owns 2,429,601 shares of the data storage provider’s stock worth $83,532,000 after buying an additional 93,659 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its position in Seagate Technology PLC by 1.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 274,119 shares of the data storage provider’s stock worth $10,757,000 after buying an additional 4,508 shares in the last quarter. Finally, Gargoyle Investment Advisor L.L.C. boosted its position in Seagate Technology PLC by 1.4% in the fourth quarter. Gargoyle Investment Advisor L.L.C. now owns 30,508 shares of the data storage provider’s stock worth $1,119,000 after buying an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 86.75% of the company’s stock.

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.

The Fly

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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