Seagate Technology PLC (STX) PT Raised to $40.00 at Royal Bank Of Canada
Seagate Technology PLC (NASDAQ:STX) had its target price boosted by stock analysts at Royal Bank Of Canada from $35.00 to $40.00 in a research report issued on Tuesday. The firm presently has a “sector perform” rating on the data storage provider’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 1.65% from the company’s previous close.
A number of other research firms have also recently commented on STX. Mizuho cut their price target on shares of Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Benchmark Co. cut shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Loop Capital assumed coverage on shares of Seagate Technology PLC in a report on Monday, July 24th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Barclays PLC cut shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $49.00 to $40.00 in a report on Thursday, July 13th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Seagate Technology PLC currently has an average rating of “Hold” and an average target price of $41.29.
Seagate Technology PLC (NASDAQ STX) opened at 39.35 on Tuesday. The company has a market cap of $11.33 billion, a PE ratio of 15.25 and a beta of 1.72. The firm’s 50 day moving average is $33.49 and its 200 day moving average is $38.09. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Analysts forecast that Seagate Technology PLC will post $3.63 EPS for the current fiscal year.
In other Seagate Technology PLC news, insider Philip G. Brace purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the insider now 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 accessible through the SEC website. 0.87% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Beacon Capital Management bought a new position in Seagate Technology PLC in the fourth quarter worth approximately $0. Spirit of America Management Corp NY bought a new position in Seagate Technology PLC in the third quarter worth approximately $104,000. Cowen Prime Services LLC bought a new position in Seagate Technology PLC in the second quarter worth approximately $105,000. Seven Bridges Advisors LLC bought a new position in Seagate Technology PLC in the third quarter worth approximately $107,000. Finally, Ropes Wealth Advisors LLC raised its position in Seagate Technology PLC by 448.6% in the third quarter. Ropes Wealth Advisors LLC now owns 2,787 shares of the data storage provider’s stock worth $107,000 after acquiring an additional 2,279 shares during the period. Institutional investors and hedge funds own 89.94% 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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