Seagate Technology (NASDAQ:STX) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on STX. Cowen reiterated a “hold” rating and issued a $36.00 price objective on shares of Seagate Technology in a report on Friday, October 13th. Jefferies Group set a $29.00 price objective on shares of Seagate Technology and gave the stock a “hold” rating in a report on Sunday, October 15th. Mizuho reiterated a “hold” rating and issued a $36.00 price objective on shares of Seagate Technology in a report on Monday, October 9th. Barclays boosted their price objective on shares of Seagate Technology from $29.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, October 24th. Finally, Vetr upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating and set a $41.39 price objective on the stock in a report on Monday, November 6th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $41.41.

Shares of Seagate Technology (NASDAQ STX) traded up $0.55 during mid-day trading on Friday, reaching $39.11. 5,125,029 shares of the company’s stock were exchanged, compared to its average volume of 3,528,329. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $50.96. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. The firm has a market cap of $11,156.13, a price-to-earnings ratio of 9.43, a P/E/G ratio of 0.51 and a beta of 1.67.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. research analysts predict that Seagate Technology will post 3.99 EPS for the current fiscal year.

In related news, Director Dambisa F. Moyo sold 8,715 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $39.01, for a total transaction of $339,972.15. Following the sale, the director now owns 3,316 shares in the company, valued at $129,357.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Philip G. Brace sold 5,403 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $36.79, for a total transaction of $198,776.37. Following the sale, the insider now owns 33,069 shares in the company, valued at approximately $1,216,608.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,981 shares of company stock worth $1,656,761. Company insiders own 0.87% of the company’s stock.

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 in the 4th quarter worth about $0. Good Life Advisors LLC grew its position in Seagate Technology by 0.3% in the 2nd quarter. Good Life Advisors LLC now owns 9,883 shares of the data storage provider’s stock worth $379,000 after purchasing an additional 26 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in Seagate Technology by 0.5% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 9,440 shares of the data storage provider’s stock worth $364,000 after purchasing an additional 50 shares during the last quarter. Cleararc Capital Inc. grew its position in Seagate Technology by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 7,195 shares of the data storage provider’s stock worth $330,000 after purchasing an additional 51 shares during the last quarter. Finally, Allianz Asset Management AG grew its position in Seagate Technology by 0.6% in the 4th quarter. Allianz Asset Management AG now owns 17,326 shares of the data storage provider’s stock worth $661,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 91.74% of the company’s stock.

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Seagate Technology 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.

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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