BidaskClub upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a buy rating in a report published on Tuesday morning.

Other research analysts have also recently issued reports about the company. Maxim Group reiterated a hold rating and issued a $54.00 price objective (up from $52.00) on shares of Seagate Technology in a report on Wednesday, May 2nd. Benchmark reiterated a hold rating on shares of Seagate Technology in a report on Tuesday, July 31st. Cowen set a $55.00 price objective on Seagate Technology and gave the company a market perform rating in a report on Wednesday, May 2nd. Cfra reiterated a hold rating on shares of Seagate Technology in a report on Tuesday, May 1st. Finally, Guggenheim reiterated a hold rating on shares of Seagate Technology in a report on Tuesday, May 1st. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $54.26.

Shares of STX stock traded up $0.51 during trading hours on Tuesday, reaching $55.38. The company had a trading volume of 28,067 shares, compared to its average volume of 2,682,541. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.35 and a quick ratio of 1.02. The firm has a market capitalization of $15.47 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 0.65 and a beta of 1.74. Seagate Technology has a 12-month low of $30.60 and a 12-month high of $62.70.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Monday, July 30th. The data storage provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.17. Seagate Technology had a return on equity of 120.71% and a net margin of 10.57%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. equities research analysts expect that Seagate Technology will post 6.23 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 19th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Tuesday, September 18th. Seagate Technology’s dividend payout ratio (DPR) is 45.74%.

In other news, insider Stephen J. Luczo sold 5,681 shares of the company’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $60.00, for a total transaction of $340,860.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Valueact Capital Master Fund, acquired 946,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were bought at an average cost of $52.78 per share, for a total transaction of $49,929,880.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,571,000 shares of company stock worth $82,863,630 and have sold 107,869 shares worth $6,371,561. 0.87% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of STX. Wedge Capital Management L L P NC purchased a new stake in shares of Seagate Technology during the second quarter worth $62,387,000. Summit Trail Advisors LLC increased its position in shares of Seagate Technology by 4,026.7% during the first quarter. Summit Trail Advisors LLC now owns 1,117,799 shares of the data storage provider’s stock worth $1,118,000 after acquiring an additional 1,090,712 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Seagate Technology by 90.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,086,825 shares of the data storage provider’s stock worth $63,602,000 after acquiring an additional 517,277 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Seagate Technology by 63.5% during the second quarter. Canada Pension Plan Investment Board now owns 999,870 shares of the data storage provider’s stock worth $56,463,000 after acquiring an additional 388,472 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of Seagate Technology by 46.6% during the second quarter. Alps Advisors Inc. now owns 1,183,377 shares of the data storage provider’s stock worth $49,512,000 after acquiring an additional 376,362 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.

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Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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