Seagate Technology PLC (NASDAQ:STX) has earned an average rating of “Hold” from the twenty-eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $48.10.
A number of research firms recently issued reports on STX. Susquehanna Bancshares dropped their price target on Seagate Technology from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Monday, September 23rd. KeyCorp set a $58.00 price target on Seagate Technology and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Craig Hallum downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research note on Friday, September 20th. Wells Fargo & Co raised their price target on Seagate Technology from $45.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, September 13th. Finally, Cowen raised their price target on Seagate Technology from $40.00 to $51.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th.
STX opened at $54.98 on Monday. Seagate Technology has a one year low of $35.38 and a one year high of $57.20. The company has a market cap of $14.58 billion, a P/E ratio of 11.41, a PEG ratio of 9.81 and a beta of 1.64. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.52 and a current ratio of 1.95. The business’s 50-day simple moving average is $53.43 and its 200-day simple moving average is $48.28.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Friday, August 2nd. The data storage provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.33 billion. Seagate Technology had a return on equity of 72.07% and a net margin of 19.36%. The firm’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 EPS. As a group, analysts predict that Seagate Technology will post 4.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 25th were paid a $0.63 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.52 annualized dividend and a dividend yield of 4.58%. Seagate Technology’s dividend payout ratio (DPR) is currently 52.28%.
In other news, EVP Jeffrey D. Nygaard sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $55.00, for a total value of $110,000.00. Following the completion of the sale, the executive vice president now directly owns 25,985 shares of the company’s stock, valued at approximately $1,429,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen J. Luczo sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $47.00, for a total value of $235,000.00. Following the completion of the sale, the director now directly owns 14,221 shares of the company’s stock, valued at $668,387. The disclosure for this sale can be found here. Insiders sold a total of 134,000 shares of company stock worth $7,145,110 over the last quarter. Company insiders own 1.12% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Covington Capital Management acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $26,000. CWM LLC lifted its holdings in shares of Seagate Technology by 61.3% in the 2nd quarter. CWM LLC now owns 789 shares of the data storage provider’s stock valued at $37,000 after buying an additional 300 shares during the period. HM Payson & Co. acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $38,000. Quantamental Technologies LLC acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $39,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Seagate Technology by 231.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,033 shares of the data storage provider’s stock valued at $56,000 after buying an additional 721 shares during the period. 85.29% of the stock is 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. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
Featured Article: Closed-End Mutual Funds
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 MarketBeat.com's FREE daily email newsletter.