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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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