Seagate Technology (STX) Rating Reiterated by Maxim Group

Maxim Group reaffirmed their hold rating on shares of Seagate Technology (NASDAQ:STX) in a report published on Tuesday morning, MarketBeat reports. Maxim Group currently has a $44.00 target price on the data storage provider’s stock, up from their prior target price of $43.00.

Other analysts also recently issued reports about the company. Citigroup raised their target price on Seagate Technology from $34.00 to $41.00 and gave the company a neutral rating in a research note on Tuesday, October 24th. Cowen raised their price target on shares of Seagate Technology from $39.00 to $47.00 and gave the company a market perform rating in a research report on Tuesday. Loop Capital reaffirmed a buy rating and issued a $55.00 price target on shares of Seagate Technology in a research report on Tuesday. They noted that the move was a valuation call. Royal Bank of Canada raised their price target on shares of Seagate Technology to $48.00 and gave the company a sector perform rating in a research report on Tuesday. Finally, Mizuho raised their price target on shares of Seagate Technology from $36.00 to $39.00 and gave the company a neutral rating in a research report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $43.15.

Shares of Seagate Technology (NASDAQ STX) traded up $0.68 during trading on Tuesday, reaching $47.07. The company’s stock had a trading volume of 3,808,221 shares, compared to its average volume of 7,015,915. 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 has a 52-week low of $30.60 and a 52-week high of $50.96. The firm has a market cap of $13,620.00, a P/E ratio of 17.83, a P/E/G ratio of 0.57 and a beta of 1.68.

Seagate Technology (NASDAQ:STX) last issued its 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. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. analysts forecast that Seagate Technology will post 4 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a yield of 5.35%. Seagate Technology’s dividend payout ratio is 95.45%.

In related news, insider Philip G. Brace sold 5,403 shares of Seagate Technology stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $36.79, for a total value of $198,776.37. Following the completion of the transaction, the insider now directly owns 33,069 shares in the company, valued at approximately $1,216,608.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey D. Nygaard acquired 5,000 shares of Seagate Technology stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average price of $37.38 per share, with a total value of $186,900.00. The disclosure for this purchase can be found here. Insiders sold a total of 42,481 shares of company stock valued at $1,655,011 over the last quarter. 0.87% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. L & S Advisors Inc grew its stake in Seagate Technology by 0.5% in the 2nd quarter. L & S Advisors Inc now owns 19,412 shares of the data storage provider’s stock valued at $752,000 after buying an additional 100 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Seagate Technology by 0.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 48,218 shares of the data storage provider’s stock valued at $1,868,000 after buying an additional 152 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Seagate Technology by 0.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,065 shares of the data storage provider’s stock valued at $855,000 after buying an additional 169 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Seagate Technology by 0.3% during the 2nd quarter. D.A. Davidson & CO. now owns 89,587 shares of the data storage provider’s stock valued at $3,471,000 after purchasing an additional 236 shares in the last quarter. Finally, Ropes Wealth Advisors LLC grew its position in shares of Seagate Technology by 4.3% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 6,572 shares of the data storage provider’s stock valued at $255,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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About Seagate Technology

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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