Wells Fargo & Company initiated coverage on shares of Seagate Technology PLC (NASDAQ:STX) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued a market perform rating and a $38.00 target price on the data storage provider’s stock.
Several other analysts also recently weighed in on the stock. Vetr upgraded shares of Seagate Technology PLC from a buy rating to a strong-buy rating and set a $41.39 target price for the company in a report on Monday, November 6th. BidaskClub downgraded shares of Seagate Technology PLC from a strong-buy rating to a buy rating in a report on Thursday, November 2nd. Zacks Investment Research downgraded shares of Seagate Technology PLC from a buy rating to a hold rating in a report on Tuesday, October 31st. Argus reiterated a hold rating and issued a $40.00 target price on shares of Seagate Technology PLC in a report on Tuesday, October 24th. Finally, Barclays PLC boosted their price target on shares of Seagate Technology PLC from $29.00 to $32.00 and gave the stock an underweight rating in a research note on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $41.39.
Seagate Technology PLC (STX) traded up $0.30 during trading on Tuesday, reaching $39.42. 3,137,317 shares of the company traded hands, compared to its average volume of 5,200,074. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. The firm has a market cap of $11,320.00, a P/E ratio of 9.17, a PEG ratio of 0.50 and a beta of 1.68.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a net margin of 7.41% and a return on equity of 84.50%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. research analysts predict that Seagate Technology PLC will post 3.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.39%. Seagate Technology PLC’s dividend payout ratio (DPR) is 95.45%.
In other news, insider Philip G. Brace sold 5,403 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $36.79, for a total transaction of $198,776.37. Following the transaction, the insider now directly owns 33,069 shares in the company, valued at $1,216,608.51. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David H. Morton, Jr. sold 7,909 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $316,360.00. Following the transaction, the chief financial officer now owns 25,561 shares in the company, valued at $1,022,440. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,527 shares of company stock worth $856,859. Company insiders own 0.87% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of STX. Teachers Advisors LLC grew its position in Seagate Technology PLC by 3.7% during the first quarter. Teachers Advisors LLC now owns 58,527 shares of the data storage provider’s stock worth $2,688,000 after buying an additional 2,099 shares during the period. Amalgamated Bank acquired a new position in Seagate Technology PLC during the first quarter worth about $215,000. Chevy Chase Trust Holdings Inc. grew its position in Seagate Technology PLC by 0.6% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 257,114 shares of the data storage provider’s stock worth $9,963,000 after buying an additional 1,435 shares during the period. Mn Services Vermogensbeheer B.V. grew its position in Seagate Technology PLC by 531.5% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 49,040 shares of the data storage provider’s stock worth $1,900,000 after buying an additional 41,274 shares during the period. Finally, James Investment Research Inc. grew its position in Seagate Technology PLC by 479.9% during the second quarter. James Investment Research Inc. now owns 32,624 shares of the data storage provider’s stock worth $1,264,000 after buying an additional 26,998 shares during the period. Institutional investors own 90.30% 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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