Seagate Technology PLC (STX) Given Average Rating of “Hold” by Analysts
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.
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.
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.
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.