Craig Hallum restated their buy rating on shares of Seagate Technology (NASDAQ:STX) in a report issued on Tuesday, January 9th, The Fly reports. They currently have a $56.00 target price on the data storage provider’s stock, up from their prior target price of $50.00.
A number of other equities analysts have also issued reports on the company. Cowen reaffirmed a market perform rating and issued a $47.00 target price (up from $39.00) on shares of Seagate Technology in a research report on Monday, January 8th. Maxim Group reaffirmed a hold rating and issued a $44.00 target price (up from $43.00) on shares of Seagate Technology in a research report on Tuesday, January 9th. Zacks Investment Research raised Seagate Technology from a strong sell rating to a hold rating in a research report on Tuesday, September 26th. Royal Bank of Canada upped their target price on Seagate Technology to $48.00 and gave the company a sector perform rating in a research report on Tuesday, January 9th. Finally, Wells Fargo & Co reaffirmed a market perform rating and issued a $45.00 target price (up from $38.00) on shares of Seagate Technology in a research report on Tuesday, January 9th. Four investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $43.39.
Seagate Technology (STX) opened at $51.14 on Tuesday. The company has a market capitalization of $14,830.00, a P/E ratio of 19.37, a P/E/G ratio of 0.76 and a beta of 1.68. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $51.88.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were paid a dividend of $0.63 per share. The ex-dividend date was Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a yield of 4.93%. Seagate Technology’s payout ratio is currently 95.45%.
In other Seagate Technology news, Chairman Stephen J. Luczo sold 100,000 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $48.99, for a total transaction of $4,899,000.00. Following the completion of the transaction, the chairman now owns 95,420 shares in the company, valued at approximately $4,674,625.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Morton, Jr. sold 7,909 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total value of $316,360.00. Following the transaction, the chief financial officer now owns 25,561 shares of the company’s stock, valued at approximately $1,022,440. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,744 shares of company stock valued at $9,075,320. 0.87% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in STX. WFG Advisors LP boosted its position in 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 acquiring an additional 3,638 shares during the period. Balentine LLC boosted its position in 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 acquiring an additional 1,619 shares during the period. Pacer Advisors Inc. acquired a new position in Seagate Technology during the 2nd quarter worth $150,000. SpiderRock Advisors LLC boosted its position in 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 acquiring an additional 5,347 shares during the period. Finally, New England Research & Management Inc. acquired a new stake in shares of Seagate Technology in the fourth quarter valued at $205,000. Institutional investors own 91.45% of the company’s stock.
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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.
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