Wells Fargo & Company initiated coverage on shares of Seagate Technology PLC (NASDAQ:STX) in a research note issued on Tuesday, The Fly reports. The firm set a “market perform” rating on the data storage provider’s stock.

STX has been the subject of several other reports. Vetr downgraded shares of Seagate Technology PLC from a “strong-buy” rating to a “buy” rating and set a $41.39 price objective for the company. in a research report on Tuesday, October 31st. BMO Capital Markets restated a “hold” rating and set a $40.00 price objective on shares of Seagate Technology PLC in a research report on Monday, October 23rd. Guggenheim restated a “hold” rating on shares of Seagate Technology PLC in a research report on Monday, October 23rd. BidaskClub upgraded shares of Seagate Technology PLC from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 25th. Finally, Argus restated a “hold” rating and set a $40.00 price objective on shares of Seagate Technology PLC in a research report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $41.29.

Shares of Seagate Technology PLC (NASDAQ STX) traded down $0.33 during mid-day trading on Tuesday, hitting $37.66. The company had a trading volume of 2,305,600 shares, compared to its average volume of 5,228,802. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. The company has a market capitalization of $10,900.00, a PE ratio of 9.29, a P/E/G ratio of 0.50 and a beta of 1.68. Seagate Technology PLC has a fifty-two week low of $30.60 and a fifty-two week high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. equities research analysts predict that Seagate Technology PLC will post 3.98 earnings per share for the current fiscal year.

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In other news, insider Philip G. Brace sold 5,403 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $36.79, for a total transaction of $198,776.37. Following the transaction, the insider now owns 33,069 shares of the company’s stock, valued at approximately $1,216,608.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey D. Nygaard purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average cost of $37.38 per share, for a total transaction of $186,900.00. The disclosure for this purchase can be found here. Insiders have sold a total of 24,527 shares of company stock worth $856,859 in the last three months. Insiders own 0.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in STX. ValueAct Holdings L.P. lifted its position in Seagate Technology PLC by 55.3% in the 3rd quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after acquiring an additional 7,642,835 shares in the last quarter. Janus Henderson Group PLC lifted its position 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 valued at $104,662,000 after acquiring an additional 2,664,861 shares in the last quarter. Vanguard Group Inc. lifted its position 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 valued at $1,294,716,000 after acquiring an additional 2,292,075 shares in the last quarter. Schroder Investment Management Group lifted its position 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 valued at $68,970,000 after acquiring an additional 1,141,917 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Seagate Technology PLC by 39.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock valued at $96,064,000 after acquiring an additional 817,861 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

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.

The Fly

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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