Several brokerages have updated their recommendations and price targets on shares of Seagate Technology (NASDAQ: STX) in the last few weeks:

  • 12/12/2017 – Seagate Technology was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $45.46 price target on the stock.
  • 12/8/2017 – Seagate Technology was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 12/4/2017 – Seagate Technology was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $45.50 price target on the stock.
  • 12/2/2017 – Seagate Technology was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 12/1/2017 – Seagate Technology was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 11/23/2017 – Seagate Technology was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $41.79 price target on the stock.
  • 11/14/2017 – Seagate Technology is now covered by analysts at Wells Fargo & Company. They set a “market perform” rating and a $38.00 price target on the stock.
  • 11/6/2017 – Seagate Technology was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $41.39 price target on the stock.
  • 11/2/2017 – Seagate Technology was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 10/31/2017 – Seagate Technology was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $41.39 price target on the stock.
  • 10/31/2017 – Seagate Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Seagate’s first-quarter fiscal 2018 results reflected increasing adoption of its Nearline hard-drive disks (HDDs). The products’ average capacity per drive crossed 5.4 terabytes. Around 1 million units were shipped, which was thrice as much as in the previous quarter. Growth in the 12-terabyte helium nearline product line was also encouraging. Seagate also benefited from strong growth in non-HDD segment revenues. We believe that Nearline’s rapid adoption will boost Seagate’s competitive position against Western Digital. Notably, the company has joined the Bain-led consortium for the acquisition of Toshiba’s flash memory assets. This will also improve its competitive position in the flash memory market. However, both earnings and revenues declined on a year-over-year basis, which reflects weak execution amid intensifying competition. On a year-to-date basis, the stock has underperformed the industry it belongs to.”
  • 10/26/2017 – Seagate Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $43.00 price target on the stock. According to Zacks, “Seagate’s first-quarter fiscal 2018 results reflected increasing adoption of its Nearline hard-drive disks (HDDs). The products’ average capacity per drive crossed 5.4 terabytes. Around 1 million units were shipped, which was thrice as much as in the previous quarter. Growth in the 12-terabyte helium nearline product line was also encouraging. Seagate also benefited from strong growth in non-HDD segment revenues. We believe that Nearline’s rapid adoption will boost Seagate’s competitive position against Western Digital. Notably, the company has joined the Bain-led consortium for the acquisition of Toshiba’s flash memory assets. This will also improve its competitive position in the flash memory market. However, both earnings and revenues declined on a year-over-year basis, which reflects weak execution amid intensifying competition. On a year-to-date basis, the stock has underperformed the industry it belongs to.”
  • 10/25/2017 – Seagate Technology was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 10/24/2017 – Seagate Technology had its “hold” rating reaffirmed by analysts at Argus. They now have a $40.00 price target on the stock.
  • 10/24/2017 – Seagate Technology had its price target raised by analysts at Barclays PLC from $29.00 to $32.00. They now have an “underweight” rating on the stock.
  • 10/24/2017 – Seagate Technology had its price target raised by analysts at Morgan Stanley from $32.00 to $37.00. They now have an “equal weight” rating on the stock.
  • 10/24/2017 – Seagate Technology had its “hold” rating reaffirmed by analysts at Benchmark Co..
  • 10/24/2017 – Seagate Technology had its “hold” rating reaffirmed by analysts at Maxim Group. They now have a $38.00 price target on the stock.
  • 10/24/2017 – Seagate Technology had its price target raised by analysts at UBS AG from $28.00 to $30.00. They now have a “sell” rating on the stock.
  • 10/24/2017 – Seagate Technology had its price target raised by analysts at Citigroup Inc. from $34.00 to $41.00. They now have a “neutral” rating on the stock.
  • 10/24/2017 – Seagate Technology had its price target raised by analysts at Royal Bank of Canada from $35.00 to $40.00. They now have a “sector perform” rating on the stock.
  • 10/23/2017 – Seagate Technology had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $40.00 price target on the stock.
  • 10/23/2017 – Seagate Technology had its “hold” rating reaffirmed by analysts at Guggenheim.
  • 10/23/2017 – Seagate Technology had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 10/23/2017 – Seagate Technology had its price target raised by analysts at Mizuho from $36.00 to $39.00. They now have a “neutral” rating on the stock.
  • 10/23/2017 – Seagate Technology had its “sector perform” rating reaffirmed by analysts at FBN Securities. They now have a $40.00 price target on the stock, up previously from $32.00.

Seagate Technology PLC (STX) traded up $0.08 during mid-day trading on Friday, hitting $42.02. 5,226,620 shares of the company’s stock traded hands, compared to its average volume of 5,136,421. The stock has a market capitalization of $12,160.00, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $50.96. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data 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 firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. Seagate Technology’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.99 EPS. sell-side analysts expect that Seagate Technology PLC will post 3.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.52 annualized dividend and a yield of 6.00%. Seagate Technology’s dividend payout ratio (DPR) is presently 95.45%.

In related news, CFO David H. Morton, Jr. sold 7,909 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $40.00, for a total value of $316,360.00. Following the transaction, the chief financial officer now owns 25,561 shares in the company, valued at approximately $1,022,440. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Dambisa F. Moyo sold 8,715 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total transaction of $339,972.15. Following the sale, the director now directly owns 3,316 shares in the company, valued at approximately $129,357.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,481 shares of company stock worth $1,655,011. 0.87% 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.

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