Seagate Technology PLC (STX) PT Raised to $38.00 at FBN Securities
Seagate Technology PLC (NASDAQ:STX) had its price objective lifted by FBN Securities from $33.00 to $38.00 in a report released on Tuesday. They currently have a sector perform rating on the data storage provider’s stock.
Several other equities research analysts also recently issued reports on the company. Vetr downgraded Seagate Technology PLC from a sell rating to a strong sell rating and set a $28.00 target price on the stock. in a research report on Monday, August 15th. Craig Hallum increased their target price on Seagate Technology PLC from $37.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, September 7th. JPMorgan Chase & Co. upgraded Seagate Technology PLC from an underweight rating to a neutral rating and increased their target price for the stock from $20.00 to $38.00 in a research report on Tuesday, October 11th. BMO Capital Markets restated a market perform rating on shares of Seagate Technology PLC in a research report on Wednesday, June 22nd. Finally, Jefferies Group increased their target price on Seagate Technology PLC from $32.00 to $38.00 and gave the stock a buy rating in a research report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $38.35.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 35.16 on Tuesday. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 42.88 and a beta of 2.50. Seagate Technology PLC has a 12 month low of $18.42 and a 12 month high of $41.83. The company’s 50-day moving average price is $36.23 and its 200-day moving average price is $29.09.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.09. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. Analysts anticipate that Seagate Technology PLC will post $3.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st were issued a $0.63 dividend. The ex-dividend date was Monday, September 19th. This represents a $2.52 annualized dividend and a yield of 7.17%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 307.32%.
In other news, Director Frank Biondi sold 1,251 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $32.45, for a total transaction of $40,594.95. Following the completion of the transaction, the director now directly owns 6,433 shares in the company, valued at $208,750.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Re sold 12,750 shares of Seagate Technology PLC stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $31.84, for a total transaction of $405,960.00. Following the transaction, the senior vice president now owns 65,520 shares of the company’s stock, valued at $2,086,156.80. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in STX. Geode Capital Management LLC raised its position in Seagate Technology PLC by 4.0% in the first quarter. Geode Capital Management LLC now owns 2,429,601 shares of the data storage provider’s stock valued at $83,532,000 after buying an additional 93,659 shares during the last quarter. PGGM Investments raised its position in Seagate Technology PLC by 96.4% in the second quarter. PGGM Investments now owns 1,423,321 shares of the data storage provider’s stock valued at $34,672,000 after buying an additional 698,632 shares during the last quarter. Eagle Asset Management Inc. raised its position in Seagate Technology PLC by 944.4% in the second quarter. Eagle Asset Management Inc. now owns 710,896 shares of the data storage provider’s stock valued at $17,317,000 after buying an additional 642,829 shares during the last quarter. Alps Advisors Inc. raised its position in Seagate Technology PLC by 88.2% in the second quarter. Alps Advisors Inc. now owns 1,136,305 shares of the data storage provider’s stock valued at $27,680,000 after buying an additional 532,405 shares during the last quarter. Finally, LPL Financial LLC raised its position in Seagate Technology PLC by 80.3% in the first quarter. LPL Financial LLC now owns 153,279 shares of the data storage provider’s stock valued at $5,037,000 after buying an additional 68,282 shares during the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.
About Seagate Technology PLC
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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