Seagate Technology PLC (NASDAQ:STX) had its price target trimmed by Mizuho from $41.00 to $36.00 in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm currently has a neutral rating on the data storage provider’s stock.

A number of other brokerages also recently commented on STX. Cowen and Company reissued a market perform rating and issued a $45.00 price objective (down previously from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. Susquehanna Bancshares Inc reissued a neutral rating on shares of Seagate Technology PLC in a research report on Wednesday, April 12th. Longbow Research raised shares of Seagate Technology PLC from a neutral rating to a buy rating and lifted their price objective for the company from $18.42 to $55.00 in a research report on Tuesday, April 11th. BTIG Research reissued a buy rating and issued a $55.00 price objective on shares of Seagate Technology PLC in a research report on Thursday, April 6th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $45.00 price objective on shares of Seagate Technology PLC in a research report on Friday, June 9th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Seagate Technology PLC presently has a consensus rating of Hold and an average price target of $42.12.

Seagate Technology PLC (STX) traded up 0.15% during midday trading on Tuesday, reaching $32.61. 7,865,473 shares of the company’s stock were exchanged. Seagate Technology PLC has a 52 week low of $30.09 and a 52 week high of $50.96. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 12.64 and a beta of 1.73. The firm has a 50-day moving average price of $39.26 and a 200 day moving average price of $43.32.

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

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 7.73%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is 97.67%.

In related news, SVP Mark Re sold 9,607 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $43.47, for a total transaction of $417,616.29. Following the completion of the transaction, the senior vice president now directly owns 40,470 shares in the company, valued at approximately $1,759,230.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $43.26, for a total transaction of $131,510.40. Following the transaction, the chief financial officer now owns 9,063 shares of the company’s stock, valued at $392,065.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,456 shares of company stock valued at $715,313. 1.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Seagate Technology PLC by 3.8% in the first quarter. Vanguard Group Inc. now owns 31,119,928 shares of the data storage provider’s stock worth $1,429,338,000 after buying an additional 1,132,336 shares in the last quarter. BlackRock Inc. boosted its position in shares of Seagate Technology PLC by 3,179.5% in the first quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock valued at $842,196,000 after buying an additional 17,777,387 shares during the period. State Street Corp boosted its position in shares of Seagate Technology PLC by 3.4% in the first quarter. State Street Corp now owns 11,253,471 shares of the data storage provider’s stock valued at $516,900,000 after buying an additional 374,218 shares during the period. Geode Capital Management LLC boosted its position in shares of Seagate Technology PLC by 25.1% in the first quarter. Geode Capital Management LLC now owns 3,206,093 shares of the data storage provider’s stock valued at $147,067,000 after buying an additional 642,845 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Seagate Technology PLC by 355.8% in the first quarter. Prudential Financial Inc. now owns 2,603,387 shares of the data storage provider’s stock valued at $119,573,000 after buying an additional 2,032,271 shares during the period. Institutional investors and hedge funds own 86.75% of the company’s stock.

About Seagate Technology PLC

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 PLC (NASDAQ:STX)

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