Seagate Technology PLC (STX) Given a $29.00 Price Target at Jefferies Group LLC
Seagate Technology PLC (NASDAQ:STX) has been given a $29.00 price objective by research analysts at Jefferies Group LLC in a report released on Sunday. The firm currently has a “hold” rating on the data storage provider’s stock. Jefferies Group LLC’s target price would indicate a potential downside of 15.70% from the company’s previous close.
STX has been the subject of several other research reports. Royal Bank Of Canada reissued a “hold” rating and set a $35.00 price objective on shares of Seagate Technology PLC in a report on Friday, September 1st. Maxim Group reissued a “hold” rating and set a $38.00 price objective (down previously from $46.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. BidaskClub downgraded shares of Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 12th. Craig Hallum raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Monday, October 2nd. Finally, ValuEngine raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $40.70.
Shares of Seagate Technology PLC (STX) opened at 34.40 on Friday. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96. The stock has a market cap of $9.90 billion, a P/E ratio of 13.33 and a beta of 1.72. The firm’s 50-day moving average price is $32.90 and its 200-day moving average price is $38.57.
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.34). Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts predict that Seagate Technology PLC will post $3.63 EPS for the current year.
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In related news, insider Philip G. Brace purchased 1,000 shares of Seagate Technology PLC stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $33.34 per share, with a total value of $33,340.00. Following the purchase, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cacti Asset Management LLC purchased a new stake in Seagate Technology PLC during the 3rd quarter worth approximately $13,812,000. W. E. Donoghue & Co. LLC purchased a new stake in Seagate Technology PLC during the 2nd quarter worth approximately $14,603,000. Intl Fcstone Inc. purchased a new stake in Seagate Technology PLC during the 2nd quarter worth approximately $772,000. Achmea Investment Management B.V. increased its stake in Seagate Technology PLC by 41.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 78,661 shares of the data storage provider’s stock worth $3,045,000 after buying an additional 23,230 shares during the period. Finally, USA Financial Portformulas Corp increased its stake in Seagate Technology PLC by 476.9% during the 2nd quarter. USA Financial Portformulas Corp now owns 68,690 shares of the data storage provider’s stock worth $2,662,000 after buying an additional 56,784 shares during the period. 90.08% 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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