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.
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.
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.
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