Seagate Technology PLC (NASDAQ:STX)‘s stock had its “hold” rating reiterated by Guggenheim in a research note issued to investors on Monday.

A number of other research analysts have also recently issued reports on the stock. Craig Hallum cut shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. BMO Capital Markets restated a “market perform” rating and set a $35.00 price objective (down previously from $42.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. FBN Securities restated a “sector perform” rating and set a $40.00 price objective (up previously from $32.00) on shares of Seagate Technology PLC in a report on Monday. Mizuho boosted their price objective on shares of Seagate Technology PLC from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Monday. Finally, KeyCorp restated a “hold” rating on shares of Seagate Technology PLC in a report on Monday. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.10.

Shares of Seagate Technology PLC (STX) traded up 12.62% during mid-day trading on Monday, reaching $39.35. 33,601,239 shares of the company were exchanged. The firm 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 capitalization of $11.33 billion, a P/E ratio of 15.25 and a beta of 1.72. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.11. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. Seagate Technology PLC’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. Equities research 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 purchased 1,000 shares of Seagate Technology PLC stock in a transaction dated Tuesday, August 1st. The stock was bought 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 directly owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global X Management Co. LLC boosted its holdings in 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. WFG Advisors LP boosted its holdings in 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. acquired a new position in Seagate Technology PLC during the second quarter worth $150,000. First Quadrant L P CA acquired a new position in Seagate Technology PLC during the second quarter worth $153,000. Finally, Private Advisory Group LLC acquired a new position in Seagate Technology PLC during the first quarter worth $206,000. Institutional investors and hedge funds own 90.08% of the company’s stock.

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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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