Seagate Technology PLC (STX) Price Target Raised to $36.00
Seagate Technology PLC (NASDAQ:STX) had its price target boosted by Maxim Group from $35.00 to $36.00 in a research report report published on Wednesday. They currently have a hold rating on the data storage provider’s stock.
A number of other equities analysts have also recently issued reports on STX. Vetr cut Seagate Technology PLC from a strong-buy rating to a hold rating and set a $23.50 target price on the stock. in a report on Tuesday, June 14th. Brean Capital reiterated a buy rating on shares of Seagate Technology PLC in a report on Wednesday, June 15th. Royal Bank Of Canada reiterated a sector perform rating and set a $24.00 price target on shares of Seagate Technology PLC in a report on Friday, June 17th. BMO Capital Markets reiterated a market perform rating on shares of Seagate Technology PLC in a report on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded Seagate Technology PLC from a strong sell rating to a hold rating in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $38.35.
Seagate Technology PLC (NASDAQ:STX) opened at 35.01 on Wednesday. The firm has a 50-day moving average price of $36.28 and a 200 day moving average price of $29.02. Seagate Technology PLC has a 52-week low of $18.42 and a 52-week high of $41.83. The firm has a market capitalization of $10.51 billion, a P/E ratio of 42.70 and a beta of 2.50.
Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.09. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. Analysts forecast that Seagate Technology PLC will post $3.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 7.20%. The ex-dividend date of this dividend was Monday, September 19th. Seagate Technology PLC’s payout ratio is currently 307.32%.
In other Seagate Technology PLC news, Director Frank Biondi sold 1,251 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $32.45, for a total transaction of $40,594.95. Following the transaction, the director now owns 6,433 shares of the company’s stock, valued at approximately $208,750.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mark Re sold 12,750 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $31.84, for a total value of $405,960.00. Following the transaction, the senior vice president now directly owns 65,520 shares in the company, valued at approximately $2,086,156.80. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Spirit of America Management Corp NY purchased a new position in Seagate Technology PLC during the third quarter valued at about $104,000. Windward Capital Management Co. CA purchased a new position in Seagate Technology PLC during the third quarter valued at about $468,000. Charter Trust Co. increased its position in Seagate Technology PLC by 7.8% in the third quarter. Charter Trust Co. now owns 18,128 shares of the data storage provider’s stock valued at $699,000 after buying an additional 1,315 shares in the last quarter. MSI Financial Services Inc increased its position in Seagate Technology PLC by 9.7% in the third quarter. MSI Financial Services Inc now owns 7,648 shares of the data storage provider’s stock valued at $295,000 after buying an additional 678 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in Seagate Technology PLC by 3.9% in the third quarter. Capstone Asset Management Co. now owns 16,465 shares of the data storage provider’s stock valued at $635,000 after buying an additional 620 shares in the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.
Seagate Technology PLC 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.
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