Goldman Sachs Group lowered shares of Seagate Technology (NASDAQ:STX) from a neutral rating to a sell rating in a research report report published on Thursday morning, MarketBeat reports. They currently have $44.00 target price on the data storage provider’s stock, down from their previous target price of $50.00.

Several other research firms also recently weighed in on STX. Zacks Investment Research raised Seagate Technology from a hold rating to a buy rating and set a $66.00 target price on the stock in a research report on Thursday, April 12th. ValuEngine downgraded Seagate Technology from a strong-buy rating to a buy rating in a research report on Monday, April 23rd. BidaskClub downgraded Seagate Technology from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. Cfra reissued a hold rating on shares of Seagate Technology in a research report on Tuesday, May 1st. Finally, Guggenheim reissued a hold rating on shares of Seagate Technology in a research report on Tuesday, May 1st. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $53.77.

Shares of NASDAQ STX traded down $0.14 during trading hours on Thursday, hitting $50.88. 4,972,585 shares of the company traded hands, compared to its average volume of 3,052,018. The company has a market cap of $14.65 billion, a P/E ratio of 9.24, a P/E/G ratio of 0.62 and a beta of 1.74. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.02 and a current ratio of 1.35. Seagate Technology has a 12 month low of $30.60 and a 12 month high of $62.70.

Seagate Technology (NASDAQ:STX) last released its earnings results on Monday, July 30th. The data storage provider reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.17. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. Seagate Technology had a return on equity of 120.71% and a net margin of 10.57%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. equities analysts predict that Seagate Technology will post 6.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 19th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Tuesday, September 18th. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.

In other news, insider Valueact Capital Master Fund, bought 946,000 shares of the stock in a transaction on Thursday, August 2nd. The stock was acquired at an average cost of $52.78 per share, for a total transaction of $49,929,880.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Holdings L.P. Valueact bought 500,000 shares of the stock in a transaction on Tuesday, July 31st. The stock was purchased at an average price of $52.65 per share, with a total value of $26,325,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,571,000 shares of company stock worth $82,863,630 and sold 107,869 shares worth $6,371,561. Corporate insiders own 0.87% of the company’s stock.

Several hedge funds have recently modified their holdings of STX. Wedge Capital Management L L P NC purchased a new stake in shares of Seagate Technology in the 2nd quarter worth $62,387,000. Summit Trail Advisors LLC lifted its holdings in shares of Seagate Technology by 4,026.7% in the 1st quarter. Summit Trail Advisors LLC now owns 1,117,799 shares of the data storage provider’s stock worth $1,118,000 after buying an additional 1,090,712 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Seagate Technology by 90.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,086,825 shares of the data storage provider’s stock worth $63,602,000 after buying an additional 517,277 shares during the period. WBI Investments Inc. lifted its holdings in shares of Seagate Technology by 1,068.8% in the 2nd quarter. WBI Investments Inc. now owns 530,734 shares of the data storage provider’s stock worth $29,971,000 after buying an additional 485,327 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Seagate Technology by 63.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 999,870 shares of the data storage provider’s stock worth $56,463,000 after buying an additional 388,472 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.

Featured Story: Average Daily Trade Volume Explained

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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