Seagate Technology PLC (STX) Plans $0.63 Quarterly Dividend
Seagate Technology PLC (NASDAQ:STX) declared a quarterly dividend on Monday, October 23rd, RTT News reports. Shareholders of record on Wednesday, December 20th will be given a dividend of 0.63 per share by the data storage provider on Wednesday, January 3rd. This represents a $2.52 annualized dividend and a dividend yield of 7.21%.
Seagate Technology PLC (NASDAQ STX) opened at 40.4204 on Monday. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The firm has a 50 day moving average of $33.27 and a 200 day moving average of $38.26. The firm has a market capitalization of $11.63 billion, a P/E ratio of 15.6668 and a beta of 1.72.
Seagate Technology PLC (NASDAQ:STX) last released its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.11. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. On average, analysts forecast that Seagate Technology PLC will post $3.63 EPS for the current fiscal year.
Several research firms recently issued reports on STX. Jefferies Group LLC set a $29.00 target price on Seagate Technology PLC and gave the stock a “hold” rating in a research report on Sunday, October 15th. Cowen and Company restated a “hold” rating and set a $36.00 price target on shares of Seagate Technology PLC in a report on Friday, October 13th. Zacks Investment Research upgraded Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird restated a “neutral” rating and set a $38.00 price target (down previously from $45.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Finally, Morgan Stanley restated an “equal weight” rating and set a $37.00 price target (down previously from $40.00) on shares of Seagate Technology PLC in a report on Thursday, July 13th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Seagate Technology PLC has an average rating of “Hold” and an average target price of $40.70.
In other news, insider Philip G. Brace purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the purchase, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.87% of the stock is owned by insiders.
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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.
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