Seagate Technology PLC (NASDAQ:STX)‘s stock had its “hold” rating restated by stock analysts at Mizuho in a note issued to investors on Monday. They presently have a $36.00 price objective on the data storage provider’s stock. Mizuho’s price target suggests a potential upside of 6.67% from the company’s previous close.
Several other equities research analysts have also weighed in on STX. Zacks Investment Research raised shares of Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird reaffirmed a “neutral” rating and issued a $38.00 target price (down previously from $45.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $37.00 target price (down previously from $40.00) on shares of Seagate Technology PLC in a report on Thursday, July 13th. ValuEngine raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price on shares of Seagate Technology PLC in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Seagate Technology PLC currently has a consensus rating of “Hold” and an average price target of $40.72.
Shares of Seagate Technology PLC (STX) opened at 33.75 on Monday. The company has a market capitalization of $9.71 billion, a P/E ratio of 13.08 and a beta of 1.72. The company has a 50-day moving average of $32.64 and a 200 day moving average of $38.81. 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 posted its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.34). Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the company posted $0.69 EPS. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. Analysts forecast that Seagate Technology PLC will post $3.65 EPS for the current year.
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In other Seagate Technology PLC news, insider Philip G. Brace purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was bought at an average cost of $33.34 per share, with a total value of $33,340.00. Following the purchase, the insider now directly owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.87% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of STX. BlackRock Inc. grew its stake in shares of Seagate Technology PLC by 3,179.5% during the 1st quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock worth $842,196,000 after acquiring an additional 17,777,387 shares in the last quarter. ValueAct Holdings L.P. grew its stake in shares of Seagate Technology PLC by 44.8% during the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock worth $535,361,000 after acquiring an additional 4,276,275 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Seagate Technology PLC by 7,384.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock worth $104,662,000 after acquiring an additional 2,664,861 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Seagate Technology PLC by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after acquiring an additional 2,292,075 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Seagate Technology PLC by 1,387.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,292,893 shares of the data storage provider’s stock worth $59,383,000 after acquiring an additional 1,205,993 shares in the last quarter. 90.15% of the stock is owned by institutional investors.
Seagate Technology PLC 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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