Seagate Technology PLC (NASDAQ:STX) has been given an average rating of “Hold” by the thirty-five research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $40.63.

STX has been the topic of a number of research analyst reports. Mizuho reiterated a “hold” rating and issued a $36.00 target price on shares of Seagate Technology in a research report on Monday, October 9th. FBN Securities downgraded Seagate Technology from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $40.00 to $32.00 in a research report on Monday, September 11th. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, October 26th. Royal Bank of Canada reiterated a “hold” rating and issued a $35.00 target price on shares of Seagate Technology in a research report on Friday, September 1st. Finally, BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 25th.

Shares of Seagate Technology (NASDAQ:STX) opened at $41.94 on Friday. 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 company has a market capitalization of $12,174.53, a PE ratio of 10.29, a P/E/G ratio of 0.56 and a beta of 1.67. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $50.96.

Seagate Technology (NASDAQ:STX) last posted its earnings results 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. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. analysts anticipate that Seagate Technology will post 3.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.01%. Seagate Technology’s dividend payout ratio is 95.09%.

In other news, CFO David H. Morton, Jr. sold 7,909 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $316,360.00. Following the transaction, the chief financial officer now owns 25,561 shares of the company’s stock, valued at $1,022,440. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward J. Zander sold 15,089 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,481 shares of company stock worth $1,655,011. Insiders own 0.87% of the company’s stock.

A number of large investors have recently made changes to their positions in STX. WFG Advisors LP grew its stake in Seagate Technology by 16,536.4% in 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 in the last quarter. Balentine LLC boosted its position in Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after acquiring an additional 1,619 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Seagate Technology during the 2nd quarter valued at $150,000. SpiderRock Advisors LLC boosted its position in Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after acquiring an additional 5,347 shares in the last quarter. Finally, Putnam FL Investment Management Co. bought a new stake in Seagate Technology during the 3rd quarter valued at $215,000. 91.76% of the stock is currently owned by institutional investors.

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About Seagate Technology

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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