Seagate Technology PLC (NASDAQ:STX) has received an average recommendation of “Hold” from the thirty-six brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $41.03.

Several brokerages have commented on STX. Zacks Investment Research upgraded shares of Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Robert W. Baird restated a “neutral” rating and issued a $38.00 price objective (down from $45.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Mizuho lowered their price objective on shares of Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, July 25th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (down from $37.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Finally, UBS AG restated a “sell” rating and issued a $28.00 price objective (down from $34.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th.

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Shares of Seagate Technology PLC (NASDAQ:STX) opened at 32.29 on Friday. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 12.52 and a beta of 1.69. Seagate Technology PLC has a 12 month low of $31.35 and a 12 month high of $50.96. The company has a 50-day moving average price of $36.75 and a 200-day moving average price of $43.00.

Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.34. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities analysts anticipate that Seagate Technology PLC will post $3.70 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 7.80%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is currently 97.67%.

In other news, Director Chong Sup Park sold 3,809 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $43.63, for a total value of $166,186.67. Following the sale, the director now directly owns 11,753 shares in the company, valued at approximately $512,783.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Philip G. Brace bought 1,000 shares of Seagate Technology PLC stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the acquisition, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The disclosure for this purchase can be found here. In the last quarter, insiders sold 16,456 shares of company stock worth $715,313. Corporate insiders own 1.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC increased its position in shares of Seagate Technology PLC by 7.5% in the fourth quarter. Teachers Advisors LLC now owns 56,428 shares of the data storage provider’s stock valued at $2,154,000 after buying an additional 3,936 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Seagate Technology PLC by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 255,679 shares of the data storage provider’s stock valued at $11,743,000 after buying an additional 7,862 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Seagate Technology PLC by 3.3% in the first quarter. Raymond James Trust N.A. now owns 10,122 shares of the data storage provider’s stock valued at $465,000 after buying an additional 327 shares during the last quarter. Legacy Private Trust Co. purchased a new position in shares of Seagate Technology PLC during the first quarter valued at approximately $214,000. Finally, Bank of Montreal Can increased its position in shares of Seagate Technology PLC by 4.1% in the first quarter. Bank of Montreal Can now owns 1,609,469 shares of the data storage provider’s stock valued at $73,923,000 after buying an additional 63,627 shares during the last quarter. Hedge funds and other institutional investors own 87.99% 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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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