BMO Capital Markets restated their market perform rating on shares of Seagate Technology PLC (NASDAQ:STX) in a research report report published on Wednesday, July 26th. The brokerage currently has a $35.00 price target on the data storage provider’s stock, down from their prior price target of $42.00.
STX has been the topic of a number of other research reports. Benchmark Co. downgraded Seagate Technology PLC from a buy rating to a hold rating in a research report on Tuesday, July 25th. Cowen and Company reaffirmed a market perform rating and issued a $45.00 target price (down previously from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. Zacks Investment Research downgraded Seagate Technology PLC from a strong-buy rating to a hold rating in a research report on Thursday, April 27th. BTIG Research reaffirmed a buy rating and issued a $55.00 target price on shares of Seagate Technology PLC in a research report on Thursday, April 6th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $45.00 target price (down previously from $46.00) on shares of Seagate Technology PLC in a research report on Saturday, April 29th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $42.12.
Seagate Technology PLC (NASDAQ STX) opened at 33.43 on Wednesday. The stock’s 50 day moving average price is $38.76 and its 200-day moving average price is $43.35. Seagate Technology PLC has a one year low of $30.09 and a one year high of $50.96. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 12.96 and a beta of 1.69.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. Analysts forecast that Seagate Technology PLC will post $3.70 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 7.54%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is currently 97.67%.
In other Seagate Technology PLC news, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $43.26, for a total transaction of $131,510.40. Following the completion of the sale, the chief financial officer now directly owns 9,063 shares in the company, valued at $392,065.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip G. Brace bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the purchase, the insider now directly owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The disclosure for this purchase can be found here. Insiders have sold 16,456 shares of company stock valued at $715,313 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. boosted its stake in Seagate Technology PLC by 12.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,726 shares of the data storage provider’s stock valued at $125,000 after buying an additional 300 shares during the last quarter. Global X Management Co. LLC boosted its stake in Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares during the last quarter. First Quadrant L P CA acquired a new stake in Seagate Technology PLC during the second quarter valued at $153,000. Ledyard National Bank increased its position in shares of Seagate Technology PLC by 1,318.3% in the first quarter. Ledyard National Bank now owns 4,255 shares of the data storage provider’s stock valued at $195,000 after buying an additional 3,955 shares during the period. Finally, Sigma Investment Counselors Inc. bought a new position in shares of Seagate Technology PLC during the first quarter valued at about $201,000. Hedge funds and other institutional investors own 86.54% 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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