ValuEngine downgraded shares of Seagate Technology PLC (NASDAQ:STX) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
Several other analysts have also weighed in on STX. Susquehanna Bancshares Inc reiterated a neutral rating and set a $44.00 target price (up previously from $43.00) on shares of Seagate Technology PLC in a research note on Thursday, June 1st. Royal Bank Of Canada reiterated a hold rating and set a $45.00 target price on shares of Seagate Technology PLC in a research note on Friday, June 9th. Aegis initiated coverage on shares of Seagate Technology PLC in a research note on Tuesday, June 13th. They set a buy rating and a $50.00 target price for the company. Evercore ISI initiated coverage on shares of Seagate Technology PLC in a research note on Friday, June 16th. They set an in-line rating and a $48.00 target price for the company. Finally, Barclays PLC lowered shares of Seagate Technology PLC from an equal weight rating to an underweight rating and lowered their target price for the company from $49.00 to $40.00 in a research note on Thursday, July 13th. Five equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Seagate Technology PLC currently has a consensus rating of Hold and a consensus target price of $41.53.
Shares of Seagate Technology PLC (STX) opened at 31.99 on Friday. The stock has a 50 day moving average of $32.70 and a 200 day moving average of $41.15. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $50.96. The firm has a market cap of $9.34 billion, a PE ratio of 12.40 and a beta of 1.69.
Seagate Technology PLC (NASDAQ:STX) last released its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.99 by $0.34. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts anticipate that Seagate Technology PLC will post $3.69 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.88%. Seagate Technology PLC’s dividend payout ratio is 97.67%.
In other Seagate Technology PLC news, insider Philip G. Brace bought 1,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were bought at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the acquisition, 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 Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Intl Fcstone Inc. acquired a new position in Seagate Technology PLC in the second quarter worth approximately $772,000. Achmea Investment Management B.V. increased its holdings in Seagate Technology PLC by 41.9% in the second quarter. Achmea Investment Management B.V. now owns 78,661 shares of the data storage provider’s stock worth $3,045,000 after buying an additional 23,230 shares during the last quarter. USA Financial Portformulas Corp increased its holdings in Seagate Technology PLC by 476.9% in the second quarter. USA Financial Portformulas Corp now owns 68,690 shares of the data storage provider’s stock worth $2,662,000 after buying an additional 56,784 shares during the last quarter. Kimelman & Baird LLC increased its holdings in Seagate Technology PLC by 0.5% in the second quarter. Kimelman & Baird LLC now owns 300,600 shares of the data storage provider’s stock worth $11,648,000 after buying an additional 1,350 shares during the last quarter. Finally, WFG Advisors LP increased its holdings in Seagate Technology PLC by 16,536.4% in the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after buying an additional 3,638 shares during the last quarter. Hedge funds and other institutional investors own 89.88% of the company’s stock.
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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