Seagate Technology PLC’s (STX) Hold Rating Reaffirmed at Guggenheim
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.
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