Seagate Technology (STX) Raised to Hold at Cross Research

Seagate Technology (NASDAQ:STX) was upgraded by equities research analysts at Cross Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, The Fly reports.

A number of other equities analysts have also weighed in on the company. TheStreet upgraded Seagate Technology from a “c+” rating to a “b-” rating in a research note on Tuesday, January 9th. ValuEngine upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Craig Hallum upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Monday, October 2nd. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, October 26th. Finally, Vetr lowered Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 price objective for the company. in a research note on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Seagate Technology presently has an average rating of “Hold” and a consensus price target of $43.39.

Shares of Seagate Technology (NASDAQ STX) opened at $51.26 on Tuesday. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $51.88. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The company has a market capitalization of $14,830.00, a PE ratio of 19.42, a price-to-earnings-growth ratio of 0.76 and a beta of 1.68.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. equities analysts forecast that Seagate Technology will post 4.32 earnings per share for the current year.

In other Seagate Technology news, CFO David H. Morton, Jr. sold 7,909 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $316,360.00. Following the completion of the sale, the chief financial officer now directly owns 25,561 shares in the company, valued at approximately $1,022,440. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey D. Nygaard acquired 5,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were purchased at an average price of $37.38 per share, with a total value of $186,900.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 194,744 shares of company stock valued at $9,075,320. 0.87% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. WFG Advisors LP boosted its holdings in shares of Seagate Technology by 16,536.4% during 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. Balentine LLC boosted its holdings in shares of Seagate Technology by 56.8% during 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. New England Research & Management Inc. acquired a new position in shares of Seagate Technology during the 4th quarter worth approximately $205,000. SpiderRock Advisors LLC boosted its holdings in shares of Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after purchasing an additional 5,347 shares during the last quarter. Finally, Putnam FL Investment Management Co. acquired a new position in shares of Seagate Technology during the 3rd quarter worth approximately $215,000. Institutional investors own 91.45% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Seagate Technology (STX) Raised to Hold at Cross Research” was originally published by BBNS and is owned by of BBNS. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://baseballnewssource.com/markets/seagate-technology-stx-raised-to-hold-at-cross-research/1839385.html.

Seagate Technology 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.

The Fly

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal


Leave a Reply

 
© 2006-2018 BBNS.