Seagate Technology PLC (STX) Earns Hold Rating from BMO Capital Markets
Seagate Technology PLC (NASDAQ:STX)‘s stock had its “hold” rating reissued by research analysts at BMO Capital Markets in a research note issued on Monday.
Several other equities analysts also recently commented on STX. Barclays PLC downgraded Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $49.00 to $40.00 in a research report on Thursday, July 13th. Morgan Stanley restated an “equal weight” rating and issued a $37.00 price objective (down from $40.00) on shares of Seagate Technology PLC in a research report on Thursday, July 13th. Stifel Nicolaus restated a “hold” rating and issued a $45.00 price objective on shares of Seagate Technology PLC in a research report on Friday, July 14th. Citigroup Inc. lowered their price objective on Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 18th. Finally, Summit Redstone restated a “sell” rating on shares of Seagate Technology PLC in a research report on Saturday, July 22nd. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.10.
Shares of Seagate Technology PLC (NASDAQ STX) traded up 12.62% during trading on Monday, reaching $39.35. The company’s stock had a trading volume of 33,601,239 shares. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The company has a 50 day moving average of $33.49 and a 200 day moving average of $38.09. The company has a market cap of $11.33 billion, a PE ratio of 15.25 and a beta of 1.72.
Seagate Technology PLC (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 $0.85 by $0.11. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The business’s revenue was down 5.9% on a year-over-year basis. On average, analysts anticipate that Seagate Technology PLC will post $3.63 EPS for the current fiscal year.
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In other news, insider Philip G. Brace bought 1,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $33.34 per share, with a total value of $33,340.00. Following the purchase, the insider now directly owns 62,855 shares in the company, valued at approximately $2,095,585.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. WFG Advisors LP lifted its stake in Seagate Technology PLC by 16,536.4% in the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after buying an additional 3,638 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Seagate Technology PLC in the 2nd quarter worth approximately $150,000. First Quadrant L P CA purchased a new position in Seagate Technology PLC in the 2nd quarter worth approximately $153,000. Global X Management Co. LLC lifted its stake in Seagate Technology PLC by 29.2% in the 1st quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after purchasing an additional 789 shares in the last quarter. Finally, SpiderRock Advisors LLC lifted its stake in Seagate Technology PLC by 2,419.5% in the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after purchasing an additional 5,347 shares in the last quarter. 90.08% of the stock is currently owned by institutional investors and hedge funds.
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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