Seagate Technology (NASDAQ:STX) Earning Somewhat Positive News Coverage, Report Finds

Press coverage about Seagate Technology (NASDAQ:STX) has trended somewhat positive recently, according to Accern Sentiment. Accern identifies positive and negative press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Seagate Technology earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave media stories about the data storage provider an impact score of 45.6540526468957 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

These are some of the news articles that may have impacted Accern Sentiment Analysis’s scoring:

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Shares of Seagate Technology (STX) opened at $59.68 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 4.07. The stock has a market cap of $17,149.46, a P/E ratio of 27.13, a PEG ratio of 0.79 and a beta of 1.84. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $61.19.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.86 billion. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. research analysts anticipate that Seagate Technology will post 4.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Tuesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is 114.55%.

STX has been the subject of several research reports. TheStreet upgraded shares of Seagate Technology from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. Loop Capital restated a “buy” rating and set a $55.00 price objective on shares of Seagate Technology in a research report on Tuesday, January 9th. They noted that the move was a valuation call. BidaskClub lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Vetr cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $45.46 target price for the company. in a report on Tuesday, December 12th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology currently has an average rating of “Hold” and a consensus target price of $50.60.

In related news, insider Stephen J. Luczo sold 341,738 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total transaction of $18,795,590.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Stephen J. Luczo sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $48.99, for a total transaction of $4,899,000.00. Following the transaction, the chairman now directly owns 95,420 shares in the company, valued at approximately $4,674,625.80. The disclosure for this sale can be found here. Insiders sold 810,048 shares of company stock valued at $43,459,301 over the last three months. 0.87% of the stock is owned by insiders.

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About Seagate Technology

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.

Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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