Seagate Technology PLC (NASDAQ:STX) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday, November 6th. The firm presently has a $41.39 price objective on the data storage provider’s stock. Vetr‘s price objective would suggest a potential upside of 5.00% from the company’s current price.
Other analysts have also recently issued reports about the stock. BMO Capital Markets reissued a “market perform” rating and set a $35.00 price objective (down from $42.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Craig Hallum cut shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Citigroup Inc. boosted their price objective on shares of Seagate Technology PLC from $34.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 24th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price objective on shares of Seagate Technology PLC in a research note on Friday, July 14th. Finally, Cowen and Company lowered their price objective on shares of Seagate Technology PLC from $45.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, July 26th. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology PLC presently has a consensus rating of “Hold” and an average price target of $41.39.
Shares of Seagate Technology PLC (NASDAQ STX) opened at $39.42 on Monday. The company has a market cap of $11,404.95, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.52 and a beta of 1.68. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a net margin of 7.41% and a return on equity of 84.50%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company earned $0.99 EPS. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. equities analysts anticipate that Seagate Technology PLC will post 3.99 earnings per share for the current fiscal year.
In other news, insider Jeffrey D. Nygaard bought 5,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was purchased at an average price of $37.38 per share, for a total transaction of $186,900.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dambisa F. Moyo sold 8,715 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total transaction of $339,972.15. Following the completion of the transaction, the director now owns 3,316 shares of the company’s stock, valued at approximately $129,357.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,527 shares of company stock valued at $856,859. Insiders own 0.87% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. WFG Advisors LP grew its position in Seagate Technology PLC by 16,536.4% in the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 3,638 shares during the last quarter. Pacer Advisors Inc. bought a new position in Seagate Technology PLC in the 2nd quarter worth about $150,000. First Quadrant L P CA bought a new position in Seagate Technology PLC in the 2nd quarter worth about $153,000. Balentine LLC grew its position in Seagate Technology PLC by 56.8% in the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after purchasing an additional 1,619 shares during the last quarter. Finally, Amalgamated Bank bought a new position in Seagate Technology PLC in the 1st quarter worth about $215,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.
About Seagate Technology PLC
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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