Equities researchers at Wells Fargo & Company started coverage on shares of Seagate Technology PLC (NASDAQ:STX) in a report released on Tuesday. The brokerage set a “market perform” rating on the data storage provider’s stock.
Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets restated a “market perform” rating and set a $35.00 target price (down previously from $42.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Craig Hallum lowered shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Citigroup Inc. upped their price target on shares of Seagate Technology PLC from $34.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, October 24th. Cowen and Company reduced their price target on shares of Seagate Technology PLC from $45.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, July 26th. Finally, Mizuho upped their price target on shares of Seagate Technology PLC from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.29.
Seagate Technology PLC (NASDAQ:STX) traded down $0.33 on Tuesday, reaching $37.66. 2,305,600 shares of the company’s stock traded hands, compared to its average volume of 5,228,802. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. The company has a market cap of $10,900.00, a PE ratio of 9.29, a P/E/G ratio of 0.50 and a beta of 1.68. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology PLC had a net margin of 7.41% and a return on equity of 84.50%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. research analysts forecast that Seagate Technology PLC will post 3.98 earnings per share for the current fiscal year.
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In other Seagate Technology PLC news, insider Jeffrey D. Nygaard bought 5,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was acquired at an average cost of $37.38 per share, for a total transaction of $186,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philip G. Brace sold 5,403 shares of Seagate Technology PLC stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.79, for a total value of $198,776.37. Following the sale, the insider now owns 33,069 shares of the company’s stock, valued at $1,216,608.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,527 shares of company stock valued at $856,859. Corporate insiders own 0.87% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. WFG Advisors LP increased its stake in shares of Seagate Technology PLC by 16,536.4% during the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after buying an additional 3,638 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Seagate Technology PLC during the second quarter valued at $150,000. First Quadrant L P CA purchased a new position in shares of Seagate Technology PLC during the second quarter valued at $153,000. SpiderRock Advisors LLC increased its stake in shares of Seagate Technology PLC by 2,419.5% during the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after buying an additional 5,347 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Seagate Technology PLC during the first quarter valued at $215,000. Hedge funds and other institutional investors own 90.30% 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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