Recent Analysts’ Ratings Changes for Seagate Technology (STX)

Several analysts have recently updated their ratings and price targets for Seagate Technology (NASDAQ: STX):

  • 2/5/2018 – Seagate Technology was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $56.12 price target on the stock.
  • 1/30/2018 – Seagate Technology had its price target raised by analysts at Citigroup Inc from $46.00 to $56.00. They now have a “neutral” rating on the stock.
  • 1/30/2018 – Seagate Technology had its price target raised by analysts at Robert W. Baird from $40.00 to $48.00. They now have a “neutral” rating on the stock.
  • 1/30/2018 – Seagate Technology had its price target raised by analysts at Morgan Stanley from $48.00 to $51.00. They now have an “equal weight” rating on the stock.
  • 1/30/2018 – Seagate Technology had its price target raised by analysts at BMO Capital Markets to $53.00. They now have a “market perform” rating on the stock.
  • 1/30/2018 – Seagate Technology had its price target raised by analysts at BTIG Research to $63.00. They now have a “buy” rating on the stock.
  • 1/30/2018 – Seagate Technology had its price target raised by analysts at Maxim Group to $52.00. They now have a “neutral” rating on the stock.
  • 1/30/2018 – Seagate Technology had its price target raised by analysts at Loop Capital to $65.00. They now have a “buy” rating on the stock.
  • 1/30/2018 – Seagate Technology had its price target raised by analysts at Mizuho from $39.00 to $53.00. They now have a “neutral” rating on the stock.
  • 1/29/2018 – Seagate Technology was given a new $53.00 price target on by analysts at Cowen Inc. They now have a “hold” rating on the stock.
  • 1/29/2018 – Seagate Technology had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $53.00 price target on the stock, up previously from $39.00. They wrote, “We are adjusting estimates and adjusting PT to $53 with good nearline demand and improving opex. However, lack of an in-house NAND roadmap keeps us on the sidelines. KeyPoints Good DecQ results and MarQ guide. STX reported DecQ rev/EPS/GM at $2.9B/$1.48/30.4%, inline with prior updated guide and consensus of $2.9B/ $1.35/29.9%. EPS came in higher on good Opex control. STX guided MarQ rev/GMs to ~2.7$B/30.5% (consensus $2.6B/29.7%) with seasonality offset by cloud and nearline demand.””
  • 1/29/2018 – Seagate Technology had its “hold” rating reaffirmed by analysts at Guggenheim.
  • 1/29/2018 – Seagate Technology had its price target raised by analysts at FBN Securities to $60.00. They now have a “sector perform” rating on the stock.
  • 1/16/2018 – Seagate Technology was upgraded by analysts at Cross Research from a “sell” rating to a “hold” rating.
  • 1/12/2018 – Seagate Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. According to Zacks, “Seagate is gaining from the increasing adoption of its Nearline HDDs. We believe that Nearline’s rapid adoption will boost Seagate’s competitive position against Western Digital. Notably, Seagate’s recent NAND-supply deal with Toshiba will help it in developing advanced HDD, SSD and hybrid solutions. This will also improve its competitive position in the flash memory market. Recently, the company announced its second quarter preliminary results. It expects higher revenues and margins in the quarter due to greater demand for its HDD products and operational efficiencies. The company’s efforts in the improvement of areal density with the ramping up of its heat assisted magnetic recording (“HAMR”) technology are yet another positive. Shares of Seagate have outperformed the industry in the past one year. However, stiff competition in the disk drive market and customer concentration remains major risk for Seagate.”
  • 1/11/2018 – Seagate Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Seagate is gaining from the increasing adoption of its Nearline HDDs. We believe that Nearline’s rapid adoption will boost Seagate’s competitive position against Western Digital. Notably, Seagate’s recent NAND-supply deal with Toshiba will help it in developing advanced HDD, SSD and hybrid solutions. This will also improve its competitive position in the flash memory market. Recently, the company announced its second quarter preliminary results. It expects higher revenues and margins in the quarter due to greater demand for its HDD products and operational efficiencies. The company’s efforts in the improvement of areal density with the ramping up of its heat assisted magnetic recording (“HAMR”) technology are yet another positive. Shares of Seagate have outperformed the industry in the past six months. However, stiff competition in the disk drive market and customer concentration remains major risk for Seagate.”
  • 1/9/2018 – Seagate Technology was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 1/9/2018 – Seagate Technology had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $56.00 price target on the stock, up previously from $50.00.
  • 1/9/2018 – Seagate Technology had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co. They now have a $45.00 price target on the stock, up previously from $38.00.
  • 1/9/2018 – Seagate Technology had its “hold” rating reaffirmed by analysts at Maxim Group. They now have a $44.00 price target on the stock, up previously from $43.00.
  • 1/9/2018 – Seagate Technology had its price target raised by analysts at Royal Bank of Canada to $48.00. They now have a “sector perform” rating on the stock.
  • 1/9/2018 – Seagate Technology had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $55.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/9/2018 – Seagate Technology had its price target raised by analysts at Cowen Inc from $39.00 to $47.00. They now have a “market perform” rating on the stock.
  • 1/8/2018 – Seagate Technology had its “market perform” rating reaffirmed by analysts at Cowen Inc. They now have a $47.00 price target on the stock, up previously from $39.00.
  • 1/5/2018 – Seagate Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $48.00 price target on the stock. According to Zacks, “Seagate is gaining from the increasing adoption of its Nearline hard-disk drives (HDDs). Growth in the 12-terabyte helium nearline product line was also encouraging. Seagate also benefited from strong growth in non-HDD segment revenues. We believe that Nearline’s rapid adoption will boost Seagate’s competitive position against Western Digital. Notably, the company has joined the Bain-led consortium for the acquisition of Toshiba’s flash memory assets. This will also improve its competitive position in the flash memory market. The company’s efforts in the improvement of areal density with the ramping up of its heat assisted magnetic recording (“HAMR”) technology, which is expected be shipped in 2019, is yet another positive. Notably, shares of Seagatehave outperformed the industry in the past six months. However, stiff competition in the disk drive market and customer concentration remains major risk for Seagate.”
  • 1/3/2018 – Seagate Technology was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $44.36 price target on the stock.
  • 1/2/2018 – Seagate Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Seagate is gaining from the increasing adoption of its Nearline hard-disk drives (HDDs). Around 1 million units were shipped, which was thrice as much as in the previous quarter. Growth in the 12-terabyte helium nearline product line was also encouraging. Seagate also benefited from strong growth in non-HDD segment revenues. We believe that Nearline’s rapid adoption will boost Seagate’s competitive position against Western Digital. Notably, the company has joined the Bain-led consortium for the acquisition of Toshiba’s flash memory assets. This will also improve its competitive position in the flash memory market. However, merger between Western Digital and SanDisk has made capturing market share in the SSD storage technology more challenging. Intense competition in the disk drive market and customer concentration remains major risk for Seagate. Moreover, declining sales in the PC market is affecting the company’s results.”

Seagate Technology PLC (NASDAQ STX) traded up $1.35 during trading on Monday, reaching $49.17. 3,380,139 shares of the company’s stock were exchanged, compared to its average volume of 5,850,000. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $56.45. The firm has a market cap of $14,230.00, a P/E ratio of 22.45, a PEG ratio of 0.63 and a beta of 1.88.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st will be given a dividend of $0.63 per share. 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 5.13%. Seagate Technology’s payout ratio is presently 115.07%.

In other news, EVP James J. Murphy sold 14,175 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $55.16, for a total value of $781,893.00. Following the completion of the sale, the executive vice president now directly owns 24,585 shares of the company’s stock, valued at approximately $1,356,108.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen J. Luczo sold 341,738 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total value of $18,795,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 779,394 shares of company stock worth $41,495,557. Corporate insiders own 0.87% of the company’s stock.

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.

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