Seagate Technology PLC (STX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Seagate Technology PLC (NASDAQ:STX) have been assigned an average recommendation of “Hold” from the thirty-four ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, twenty-one have assigned a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $49.06.

A number of equities research analysts have issued reports on the stock. Guggenheim reiterated a “hold” rating on shares of Seagate Technology in a research note on Monday, January 29th. Mizuho reiterated a “neutral” rating and set a $53.00 price objective (up from $39.00) on shares of Seagate Technology in a research note on Monday, January 29th. Cowen set a $53.00 price objective on shares of Seagate Technology and gave the stock a “hold” rating in a research note on Monday, January 29th. Loop Capital increased their price objective on shares of Seagate Technology to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Maxim Group increased their price objective on shares of Seagate Technology to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday.

In related news, insider Stephen J. Luczo sold 341,738 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total value of $18,795,590.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David H. Morton, Jr. sold 40,263 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $48.78, for a total transaction of $1,964,029.14. Following the completion of the transaction, the chief financial officer now owns 65,824 shares of the company’s stock, valued at approximately $3,210,894.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 784,797 shares of company stock valued at $41,694,333. 0.87% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. WFG Advisors LP raised its holdings in Seagate Technology by 16,536.4% during the 2nd 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 during the last quarter. Balentine LLC raised its holdings in Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after purchasing an additional 1,619 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in Seagate Technology during the 4th quarter worth approximately $174,000. SpiderRock Advisors LLC raised its holdings 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 worth $184,000 after purchasing an additional 5,347 shares during the last quarter. Finally, New England Research & Management Inc. bought a new position in Seagate Technology during the 4th quarter worth approximately $205,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Shares of Seagate Technology (STX) opened at $51.77 on Friday. The stock has a market cap of $15,506.00, a PE ratio of 23.53, a price-to-earnings-growth ratio of 0.72 and a beta of 1.88. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.55 and a current ratio of 1.58. Seagate Technology has a one year low of $30.60 and a one year high of $56.45.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.86 billion. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. equities analysts predict that Seagate Technology will post 4.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.52 dividend on an annualized basis and a yield of 4.87%. Seagate Technology’s dividend payout ratio (DPR) is presently 114.55%.

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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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