Brokerages Set Seagate Technology (STX) Price Target at $53.51

Shares of Seagate Technology (NASDAQ:STX) have received a consensus recommendation of “Hold” from the thirty-four research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $53.51.

Several brokerages have issued reports on STX. Zacks Investment Research lowered Seagate Technology from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Vetr lowered Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $56.12 price target on the stock. in a research note on Wednesday, February 14th. Maxim Group reissued a “hold” rating and issued a $44.00 price target (up from $43.00) on shares of Seagate Technology in a research note on Tuesday, January 9th. BTIG Research boosted their price target on Seagate Technology to $63.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $49.00 price target on shares of Seagate Technology in a research note on Thursday, February 22nd.

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In related news, Chairman Stephen J. Luczo sold 241,738 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.76, for a total transaction of $13,237,572.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chong Sup Park sold 4,026 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.22, for a total value of $218,289.72. Following the sale, the director now owns 8,715 shares of the company’s stock, valued at approximately $472,527.30. The disclosure for this sale can be found here. Insiders have sold 662,785 shares of company stock valued at $36,396,992 in the last quarter. 0.87% of the stock is currently owned by corporate insiders.



A number of large investors have recently made changes to their positions in STX. Dimensional Fund Advisors LP grew its stake in Seagate Technology by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,261,463 shares of the data storage provider’s stock valued at $41,841,000 after purchasing an additional 44,588 shares during the period. Vident Investment Advisory LLC purchased a new position in shares of Seagate Technology during the 3rd quarter valued at $297,000. Parametric Portfolio Associates LLC lifted its position in shares of Seagate Technology by 7.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,504,787 shares of the data storage provider’s stock valued at $49,914,000 after buying an additional 105,257 shares during the last quarter. Cacti Asset Management LLC lifted its position in shares of Seagate Technology by 0.8% during the 4th quarter. Cacti Asset Management LLC now owns 419,614 shares of the data storage provider’s stock valued at $17,557,000 after buying an additional 3,225 shares during the last quarter. Finally, Polianta Ltd lifted its position in shares of Seagate Technology by 32.6% during the 4th quarter. Polianta Ltd now owns 30,500 shares of the data storage provider’s stock valued at $1,276,000 after buying an additional 7,500 shares during the last quarter. Hedge funds and other institutional investors own 89.04% of the company’s stock.

Shares of Seagate Technology stock traded down $0.26 during midday trading on Thursday, reaching $59.64. The company had a trading volume of 2,410,275 shares, compared to its average volume of 3,771,381. Seagate Technology has a fifty-two week low of $30.60 and a fifty-two week high of $62.70. The company has a debt-to-equity ratio of 4.07, a current ratio of 1.58 and a quick ratio of 1.25. The firm has a market cap of $16,987.08, a P/E ratio of 14.48, a P/E/G ratio of 0.78 and a beta of 1.68.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. equities analysts anticipate that Seagate Technology will post 4.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, March 20th. This represents a $2.52 annualized dividend and a yield of 4.23%. Seagate Technology’s dividend payout ratio (DPR) is currently 61.17%.

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About Seagate Technology

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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