Seagate Technology PLC (STX) Stock Rating Reaffirmed by BMO Capital Markets
Seagate Technology PLC (NASDAQ:STX)‘s stock had its “hold” rating reiterated by BMO Capital Markets in a research report issued to clients and investors on Monday.
Other analysts also recently issued reports about the company. Loop Capital initiated coverage on Seagate Technology PLC in a report on Monday, July 24th. They set a “buy” rating and a $50.00 price objective for the company. ValuEngine cut shares of Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. BidaskClub cut shares of Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Craig Hallum raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, October 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $37.00 price target (down from $40.00) on shares of Seagate Technology PLC in a research report on Thursday, July 13th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $41.10.
Shares of Seagate Technology PLC (NASDAQ:STX) traded up 12.62% during trading on Monday, hitting $39.35. The company’s stock had a trading volume of 33,601,239 shares. The company has a 50-day moving average price of $33.49 and a 200-day moving average price of $38.09. The stock has a market cap of $11.33 billion, a PE ratio of 15.25 and a beta of 1.72. Seagate Technology PLC has a one year low of $30.60 and a one year high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.11. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. Seagate Technology PLC’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. Equities analysts predict that Seagate Technology PLC will post $3.63 EPS for the current fiscal year.
In related news, insider Philip G. Brace purchased 1,000 shares of Seagate Technology PLC stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.87% of the company’s stock.
Several hedge funds have recently modified their holdings of STX. WFG Advisors LP lifted its position in shares of Seagate Technology PLC by 16,536.4% during the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 3,638 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Seagate Technology PLC during the second quarter worth about $150,000. First Quadrant L P CA bought a new position in shares of Seagate Technology PLC during the second quarter worth about $153,000. Global X Management Co. LLC lifted its position in shares of Seagate Technology PLC by 29.2% during the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after purchasing an additional 789 shares during the last quarter. Finally, SpiderRock Advisors LLC lifted its position in shares of Seagate Technology PLC by 2,419.5% during the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after purchasing an additional 5,347 shares during the last quarter. 90.08% of the stock is currently owned by institutional investors and hedge funds.
About Seagate Technology PLC
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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