Seagate Technology PLC (STX) Price Target Lowered to $36.00 at Citigroup Inc.
Seagate Technology PLC (NASDAQ:STX) had its target price reduced by analysts at Citigroup Inc. from $42.00 to $36.00 in a research note issued on Wednesday. The brokerage presently has a “neutral” rating on the data storage provider’s stock. Citigroup Inc.’s price objective suggests a potential upside of 11.32% from the company’s previous close.
STX has been the topic of several other reports. Cowen and Company reissued a “market perform” rating and set a $45.00 price target (down from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. Zacks Investment Research lowered Seagate Technology PLC from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 27th. BTIG Research reissued a “buy” rating and set a $55.00 price target on shares of Seagate Technology PLC in a research report on Thursday, April 6th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target (down from $46.00) on shares of Seagate Technology PLC in a research report on Saturday, April 29th. Finally, Jefferies Group LLC reduced their price target on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.12.
Seagate Technology PLC (NASDAQ:STX) traded down 2.59% during mid-day trading on Wednesday, hitting $32.34. 12,635,749 shares of the company were exchanged. Seagate Technology PLC has a 12 month low of $30.09 and a 12 month high of $50.96. The firm has a 50 day moving average price of $40.54 and a 200 day moving average price of $43.52. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 13.31 and a beta of 1.73. Seagate Technology PLC also was the recipient of unusually large options trading on Monday. Stock traders bought 43,801 put options on the stock. This is an increase of 363% compared to the average volume of 9,461 put options.
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.99 by $0.34. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.56 billion. Seagate Technology PLC had a return on equity of 79.83% and a net margin of 6.61%. The business’s revenue was down 9.3% on a year-over-year basis. During the same period last year, the firm posted $0.69 earnings per share. Analysts anticipate that Seagate Technology PLC will post $4.00 EPS for the current fiscal year.
In related news, Director Chong Sup Park sold 3,809 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $43.63, for a total transaction of $166,186.67. Following the completion of the transaction, the director now directly owns 11,753 shares in the company, valued at approximately $512,783.39. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $392,065.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,456 shares of company stock valued at $715,313. 1.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Winslow Evans & Crocker Inc. raised its position in shares of 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 during the period. Global X Management Co. LLC raised its position in shares of 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 during the period. First Quadrant L P CA acquired a new position in shares of Seagate Technology PLC during the second quarter worth about $153,000. Ledyard National Bank raised its position in shares of 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 during the period. Finally, Sigma Investment Counselors Inc. acquired a new position in shares of Seagate Technology PLC during the first quarter worth about $201,000. Institutional investors own 86.75% 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.
Receive News & Ratings for Seagate Technology PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology PLC and related companies with MarketBeat.com's FREE daily email newsletter.