Seagate Technology PLC (STX) Stock Rating Reaffirmed by Mizuho

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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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