Seagate Technology PLC’s (STX) Hold Rating Reiterated at Deutsche Bank AG
Deutsche Bank AG reaffirmed their hold rating on shares of Seagate Technology PLC (NASDAQ:STX) in a report released on Thursday morning. They currently have a $35.00 price objective on the data storage provider’s stock.
Several other equities research analysts have also weighed in on the company. Vetr lowered 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 raised their price target on Seagate Technology PLC from $37.00 to $50.00 and gave the company a buy rating in a report on Wednesday, September 7th. JPMorgan Chase & Co. raised Seagate Technology PLC from an underweight rating to a neutral rating and raised their price target for the company from $20.00 to $38.00 in a report on Tuesday, October 11th. BMO Capital Markets reissued a market perform rating on shares of Seagate Technology PLC in a report on Wednesday, June 22nd. Finally, Jefferies Group raised their price target on Seagate Technology PLC from $32.00 to $38.00 and gave the company a buy rating in a report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology PLC currently has a consensus rating of Hold and an average price target of $38.35.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 35.01 on Thursday. The company has a 50 day moving average of $36.28 and a 200 day moving average of $29.02. Seagate Technology PLC has a 52-week low of $18.42 and a 52-week high of $41.83. The stock has a market capitalization of $10.51 billion, a price-to-earnings 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.09. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Analysts predict that Seagate Technology PLC will post $3.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Wednesday, September 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 7.20%. The ex-dividend date was Monday, September 19th. Seagate Technology PLC’s dividend payout ratio is 307.32%.
In other news, SVP Mark Re sold 12,750 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $31.84, for a total transaction of $405,960.00. Following the completion of the sale, the senior vice president now owns 65,520 shares in the company, valued at $2,086,156.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David H. Morton, Jr. sold 1,716 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $36.16, for a total value of $62,050.56. Following the sale, the chief financial officer now owns 20,782 shares of the company’s stock, valued at approximately $751,477.12. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Spirit of America Management Corp NY purchased a new stake in Seagate Technology PLC during the third quarter worth $104,000. Cowen Prime Services LLC bought a new stake in Seagate Technology PLC during the second quarter worth approximately $105,000. Glenmede Trust Co. NA increased its stake in Seagate Technology PLC by 30.2% in the second quarter. Glenmede Trust Co. NA now owns 4,650 shares of the data storage provider’s stock worth $113,000 after buying an additional 1,079 shares in the last quarter. Advisory Services Network LLC increased its stake in Seagate Technology PLC by 30.2% in the second quarter. Advisory Services Network LLC now owns 5,603 shares of the data storage provider’s stock worth $136,000 after buying an additional 1,300 shares in the last quarter. Finally, Tredje AP fonden bought a new stake in Seagate Technology PLC during the second quarter worth approximately $146,000. Institutional investors own 83.93% of the company’s stock.
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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