Seagate Technology PLC (NASDAQ:STX) had its target price lifted by stock analysts at Mizuho from $36.00 to $39.00 in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a “neutral” rating on the data storage provider’s stock. Mizuho’s price target would indicate a potential downside of 0.89% from the company’s current price.

Several other analysts have also recently commented on STX. Zacks Investment Research upgraded Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. FBN Securities lowered Seagate Technology PLC from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $40.00 to $32.00 in a research note on Monday, September 11th. Royal Bank Of Canada reissued a “hold” rating and issued a $35.00 price target on shares of Seagate Technology PLC in a research note on Friday, September 1st. Barclays PLC lowered Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $49.00 to $40.00 in a research note on Thursday, July 13th. Finally, Citigroup Inc. dropped their price target on Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 18th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $41.10.

Seagate Technology PLC (STX) traded up 12.62% during midday trading on Monday, hitting $39.35. 33,565,855 shares of the stock traded hands. The firm’s 50 day moving average is $33.27 and its 200-day moving average is $38.26. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The stock has a market capitalization of $11.33 billion, a PE ratio of 15.25 and a beta of 1.72.

Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.11. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. On average, analysts anticipate that Seagate Technology PLC will post $3.63 EPS for the current fiscal year.

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In related news, insider Philip G. Brace bought 1,000 shares of the business’s stock in a transaction on 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 purchase, the insider now directly owns 62,855 shares in the company, valued at $2,095,585.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of STX. ValueAct Holdings L.P. boosted its stake in Seagate Technology PLC by 44.8% in the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock worth $535,361,000 after purchasing an additional 4,276,275 shares during the period. Janus Henderson Group PLC boosted its stake in Seagate Technology PLC by 7,384.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock worth $104,662,000 after purchasing an additional 2,664,861 shares during the period. Vanguard Group Inc. boosted its stake in Seagate Technology PLC by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after purchasing an additional 2,292,075 shares during the period. Schroder Investment Management Group boosted its stake in Seagate Technology PLC by 181.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,772,547 shares of the data storage provider’s stock worth $68,970,000 after purchasing an additional 1,141,917 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Seagate Technology PLC by 74.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock worth $63,947,000 after purchasing an additional 703,822 shares during the period. Institutional investors and hedge funds own 90.08% 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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