A number of research firms have changed their ratings and price targets for Seagate Technology PLC (NASDAQ: STX):

  • 8/4/2017 – Seagate Technology PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Seagate's fourth-quarter results were disappointing. Both revenues and earnings declined sequentially reflecting intensifying competition in the hard-drive disk (HDD) market. We believe that company's results will continue to suffer due to declining pc shipments as pointed out by market research firms – Gartner and IDC. We note that the company has underperformed the industry on a year-to-date basis. Nevertheless, we believe that new product launches will help Seagate to win enterprise customers on a continuous basis. In this regard, strong demand for hybrid drives also augurs well for the company.”
  • 7/31/2017 – Seagate Technology PLC was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/28/2017 – Seagate Technology PLC was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 7/26/2017 – Seagate Technology PLC had its price target lowered by analysts at Cowen and Company from $45.00 to $36.00. They now have an “outperform” rating on the stock.
  • 7/26/2017 – Seagate Technology PLC was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating.
  • 7/26/2017 – Seagate Technology PLC had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $38.00 price target on the stock, down previously from $45.00.
  • 7/26/2017 – Seagate Technology PLC had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $35.00 price target on the stock, down previously from $42.00.
  • 7/26/2017 – Seagate Technology PLC had its “sell” rating reaffirmed by analysts at UBS AG. They now have a $28.00 price target on the stock, down previously from $34.00.
  • 7/26/2017 – Seagate Technology PLC had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $32.00 price target on the stock, down previously from $37.00.
  • 7/26/2017 – Seagate Technology PLC had its “hold” rating reaffirmed by analysts at Maxim Group. They now have a $38.00 price target on the stock, down previously from $46.00. They wrote, “Jun Q results disappoint as surveillance HDD faces a digestion period; most of gross margin miss due to component pricing in ~$100M/quarter ODM portion of business. Below consensus September quarter guidance may not represent the bottom of current down-cycle as digestion periods often last longer than a quarter.””
  • 7/26/2017 – Seagate Technology PLC had its price target lowered by analysts at Citigroup Inc. from $42.00 to $36.00. They now have a “neutral” rating on the stock.
  • 7/26/2017 – Seagate Technology PLC had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $35.00 price target on the stock, down previously from $42.00.
  • 7/25/2017 – Seagate Technology PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Seagate's mixed third-quarter fiscal 2017 results reflected the company's focus on improving profitability by not getting involved into lower-margin businesses. Moreover, we believe that new product launches will help it to win enterprise customers on a continuous basis. Estimates have been stable lately ahead of the company's Q4 earnings release. The company has positive record of earnings surprises in the recent quarters. Further, improving PC shipment – per latest data from Gartner and IDC – bodes well for Seagate. In this regard, strong demand for hybrid drives also augurs well for the company. However, intensifying competition is a major headwind. We note that the company has underperformed the broader Zacks Computer Storage Devices industry on a year-to-date basis.”
  • 7/25/2017 – Seagate Technology PLC was downgraded by analysts at Benchmark Co. from a “buy” rating to a “hold” rating. They wrote, “Weakness was noted in OEM sales, possibly driven by ODM sales. Weakness was also noted with certain mission critical customers. Performance was termed disappointing in the high capacity, >8TB, nearline market. The NSA, surveillance, and China nearline CSP markets were all termed weak.””
  • 7/25/2017 – Seagate Technology PLC had its price target lowered by analysts at Mizuho from $41.00 to $36.00. They now have a “neutral” rating on the stock.
  • 7/25/2017 – Seagate Technology PLC was downgraded by analysts at Longbow Research from a “buy” rating to a “neutral” rating.
  • 7/24/2017 – Seagate Technology PLC is now covered by analysts at Loop Capital. They set a “buy” rating and a $50.00 price target on the stock.
  • 7/22/2017 – Seagate Technology PLC had its “sell” rating reaffirmed by analysts at Summit Redstone.
  • 7/18/2017 – Seagate Technology PLC had its price target lowered by analysts at Citigroup Inc. from $46.00 to $42.00. They now have a “neutral” rating on the stock.
  • 7/14/2017 – Seagate Technology PLC had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $45.00 price target on the stock.
  • 7/13/2017 – Seagate Technology PLC was downgraded by analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating. They now have a $40.00 price target on the stock, down previously from $49.00. They wrote, “occur at a sluggish pace” or at the expense of growth (see Moskowitz’s track record here).Second, Seagate is facing intense competition from Western Digital Corp (NASDAQ: WDC), which is gaining share in the high-margin enterprise drive segment. Meanwhile, Seagate is struggling to reach high yields and fully qualify its 10TB and 12TB high capacity drives as management likely under-invested in the space.Finally, the likelihood of a Western Digital merger with Toshiba Memory seems more likely now than it has in the past. This could decouple Western Digital from Seagate as a traditional HDD company and could result in investors rotating out of Seagate and into Western Digital.Bottom line the analyst noted that the downgrade is company-specific in nature as the ongoing concerns could “limit Seagate’s relative lift from stronger end markets.”
  • 7/13/2017 – Seagate Technology PLC had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $37.00 price target on the stock, down previously from $40.00.
  • 6/16/2017 – Seagate Technology PLC is now covered by analysts at Evercore ISI. They set an “in-line” rating and a $48.00 price target on the stock.
  • 6/13/2017 – Seagate Technology PLC is now covered by analysts at Aegis. They set a “buy” rating and a $50.00 price target on the stock.

Seagate Technology PLC (NASDAQ:STX) traded up 2.076% during trading on Friday, reaching $32.205. 3,144,129 shares of the company’s stock traded hands. Seagate Technology PLC has a 1-year low of $31.33 and a 1-year high of $50.96. The firm has a 50 day moving average of $37.03 and a 200 day moving average of $43.02. The firm has a market capitalization of $9.40 billion, a PE ratio of 12.483 and a beta of 1.69.

Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.34. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the business earned $0.69 earnings per share. Seagate Technology PLC’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts forecast that Seagate Technology PLC will post $3.70 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 annualized dividend and a dividend yield of 7.99%. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.

In related news, Director Chong Sup Park sold 3,809 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $43.63, for a total value of $166,186.67. Following the sale, the director now directly owns 11,753 shares of the company’s stock, valued at $512,783.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philip G. Brace bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the insider now directly owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The disclosure for this purchase can be found here. Insiders have sold a total of 16,456 shares of company stock worth $715,313 over the last ninety days. 1.50% of the stock is owned by corporate insiders.

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.

Receive News & Ratings for Seagate Technology PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.