Seagate Technology PLC (NASDAQ:STX) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Seagate Technology PLC (NASDAQ:STX) have earned a consensus recommendation of “Hold” from the thirty-six brokerages that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $41.03.
A number of brokerages have recently issued reports on STX. Zacks Investment Research raised Seagate Technology PLC from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Robert W. Baird reaffirmed a “neutral” rating and issued a $38.00 target price (down from $45.00) on shares of Seagate Technology PLC in a research report on Wednesday, July 26th. Mizuho decreased their target price on Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, July 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 target price (down from $37.00) on shares of Seagate Technology PLC in a research report on Wednesday, July 26th. Finally, UBS AG reaffirmed a “sell” rating and issued a $28.00 target price (down from $34.00) on shares of Seagate Technology PLC in a research report on Wednesday, July 26th.
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In related news, SVP Mark Re sold 9,607 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $43.47, for a total value of $417,616.29. Following the transaction, the senior vice president now owns 40,470 shares of the company’s stock, valued at $1,759,230.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Philip G. Brace bought 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the purchase, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The disclosure for this purchase can be found here. Insiders sold 16,456 shares of company stock worth $715,313 in the last quarter. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Global Financial Private Capital LLC boosted its position in Seagate Technology PLC by 15.4% in the second quarter. Global Financial Private Capital LLC now owns 10,984 shares of the data storage provider’s stock worth $426,000 after buying an additional 1,463 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in Seagate Technology PLC during the second quarter worth approximately $2,375,000. Dimensional Fund Advisors LP boosted its position in Seagate Technology PLC by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,216,875 shares of the data storage provider’s stock worth $47,156,000 after buying an additional 53,722 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Seagate Technology PLC by 176.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 92,500 shares of the data storage provider’s stock worth $3,584,000 after buying an additional 59,000 shares in the last quarter. Finally, Ropes Wealth Advisors LLC boosted its position in Seagate Technology PLC by 4.3% in the second quarter. Ropes Wealth Advisors LLC now owns 6,572 shares of the data storage provider’s stock worth $255,000 after buying an additional 270 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.
Seagate Technology PLC (STX) opened at 32.29 on Friday. The firm has a 50-day moving average of $36.75 and a 200 day moving average of $43.00. The firm has a market capitalization of $9.42 billion, a PE ratio of 12.52 and a beta of 1.69. Seagate Technology PLC has a 52 week low of $31.35 and a 52 week high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Analysts predict that Seagate Technology PLC will post $3.70 earnings per share for the current year.
The firm 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 $0.63 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.80%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 97.67%.
Seagate Technology PLC Company Profile
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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