Seagate Technology PLC (NASDAQ: STX) recently received a number of ratings updates from brokerages and research firms:

  • 10/2/2017 – Seagate Technology PLC was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock.
  • 10/2/2017 – Seagate Technology PLC was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/26/2017 – Seagate Technology PLC was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Seagate's results will continue to suffer due to declining pc shipments as pointed out by market research firms – Gartner and IDC. Moreover, intensifying competition is a major headwind. We note that the company has underperformed the industry on a year-to-date basis. Nevertheless, we believe that new product launches will help Seagate to win enterprise customers on a continuous basis. In this regard, strong demand for hybrid drives also augurs well for the company. Moreover, the company's cost savings plan will boost profitabilility in the long haul.”
  • 9/20/2017 – Seagate Technology PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Seagate's results will continue to suffer due to declining pc shipments as pointed out by market research firms – Gartner and IDC. Moreover, intensiyfing competition is a major headwind. We note that the company has underperformed the industry on a year-to-date basis. Nevertheless, we believe that new product launches will help Seagate to win enterprise customers on a continuous basis. In this regard, strong demand for hybrid drives also augurs well for the company. Moreover, the company's cost savings plan will boost profitabilility in the long haul.”
  • 9/12/2017 – Seagate Technology PLC was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 9/11/2017 – Seagate Technology PLC was downgraded by analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating. They now have a $29.00 price target on the stock, down previously from $40.00. They wrote, “continues to struggle with product quality issues” around Helium. Also, pricing in Nearline drives has also fallen more quickly than normal as of late and that for each 1-percent incremental price pressure in nearline, the company’s third-quarter earnings per share will be impacted by 4 cents.In addition, the company’s woes in the Helium drives segment is particularly concerning since over 40 percent of the company’s gross profit comes from the segment.Bottom line, the analyst’s prior bullish stance was based on Seagate’s success in helium drives among hyperscale customers, which was viewed as the “most interesting”
  • 9/11/2017 – Seagate Technology PLC was downgraded by analysts at FBN Securities from an “outperform” rating to a “sector perform” rating. They now have a $32.00 price target on the stock, down previously from $40.00.
  • 9/8/2017 – Seagate Technology PLC was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/1/2017 – Seagate Technology PLC had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $35.00 price target on the stock.
  • 8/23/2017 – Seagate Technology PLC was downgraded by analysts at Cleveland Research from a “neutral” rating to an “underperform” rating.
  • 8/22/2017 – Seagate Technology PLC was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

Seagate Technology PLC (NASDAQ:STX) traded up 0.132% on Wednesday, hitting $34.095. 1,322,372 shares of the company traded hands. The firm’s 50 day moving average price is $32.35 and its 200 day moving average price is $39.22. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $50.96. The firm has a market capitalization of $9.81 billion, a PE ratio of 13.215 and a beta of 1.72. Seagate Technology PLC also saw some unusual options trading activity on Monday. Investors purchased 8,448 call options on the company. This represents an increase of 142% compared to the typical daily volume of 3,494 call options.

Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings data 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). Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts predict that Seagate Technology PLC will post $3.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.52 annualized dividend and a dividend yield of 7.40%. Seagate Technology PLC’s dividend payout ratio (DPR) is 97.67%.

In other news, insider Philip G. Brace bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

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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