Seagate Technology (STX) Stock Rating Upgraded by Vetr

Seagate Technology (NASDAQ:STX) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The firm currently has a $45.50 price objective on the data storage provider’s stock. Vetr‘s target price would indicate a potential upside of 16.28% from the company’s current price.

Other research analysts also recently issued reports about the company. BMO Capital Markets reiterated a “hold” rating and set a $40.00 price objective on shares of Seagate Technology in a research note on Monday, October 23rd. Guggenheim reiterated a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 25th. Argus reiterated a “hold” rating and set a $40.00 price objective on shares of Seagate Technology in a research note on Tuesday, October 24th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $35.00 price objective on shares of Seagate Technology in a research note on Friday, September 1st. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $41.53.

Shares of Seagate Technology (STX) opened at $39.13 on Monday. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $50.96. The company has a market cap of $11,341.29, a PE ratio of 9.58, a PEG ratio of 0.52 and a beta of 1.67. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Seagate Technology 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 analyst estimates of $2.54 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. sell-side analysts expect that Seagate Technology will post 3.99 earnings per share for the current fiscal year.

In other news, insider Jeffrey D. Nygaard acquired 5,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were acquired at an average cost of $37.38 per share, with a total value of $186,900.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dambisa F. Moyo sold 8,715 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total value of $339,972.15. Following the sale, the director now directly owns 3,316 shares in the company, valued at $129,357.16. The disclosure for this sale can be found here. Insiders have sold a total of 44,981 shares of company stock worth $1,656,761 over the last ninety days. Insiders own 0.87% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Good Life Advisors LLC raised its holdings in Seagate Technology by 0.3% during the 2nd quarter. Good Life Advisors LLC now owns 9,883 shares of the data storage provider’s stock valued at $379,000 after buying an additional 26 shares during the period. L & S Advisors Inc increased its stake in Seagate Technology by 0.5% in the second quarter. L & S Advisors Inc now owns 19,412 shares of the data storage provider’s stock worth $752,000 after purchasing an additional 100 shares during the period. Neuberger Berman Group LLC increased its stake in Seagate Technology by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 48,218 shares of the data storage provider’s stock worth $1,868,000 after purchasing an additional 152 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Seagate Technology by 0.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,065 shares of the data storage provider’s stock worth $855,000 after purchasing an additional 169 shares during the period. Finally, D.A. Davidson & CO. increased its stake in Seagate Technology by 0.3% in the second quarter. D.A. Davidson & CO. now owns 89,587 shares of the data storage provider’s stock worth $3,471,000 after purchasing an additional 236 shares during the period. Institutional investors own 91.76% of the company’s stock.

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Seagate Technology 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 (NASDAQ:STX)

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