Craig Hallum upgraded shares of Seagate Technology PLC (NASDAQ:STX) from a hold rating to a buy rating in a research note released on Monday, Marketbeat Ratings reports. The brokerage currently has $50.00 price target on the data storage provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Seagate Technology PLC from a strong sell rating to a hold rating in a research note on Tuesday, September 26th. BidaskClub cut shares of Seagate Technology PLC from a strong-buy rating to a buy rating in a research note on Tuesday, September 12th. FBN Securities cut shares of Seagate Technology PLC from an outperform rating to a sector perform rating and reduced their price objective for the company from $40.00 to $32.00 in a research note on Monday, September 11th. Jefferies Group LLC cut shares of Seagate Technology PLC from a buy rating to a hold rating and reduced their price objective for the company from $40.00 to $29.00 in a research note on Monday, September 11th. Finally, ValuEngine cut shares of Seagate Technology PLC from a buy rating to a hold rating in a research note on Friday, September 8th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology PLC has a consensus rating of Hold and a consensus target price of $40.72.

Seagate Technology PLC (STX) opened at 33.98 on Monday. The company has a market cap of $9.78 billion, a PE ratio of 13.17 and a beta of 1.72. The firm has a 50 day moving average price of $32.39 and a 200 day moving average price of $39.19. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. Seagate Technology PLC also was the recipient of some unusual options trading activity on Monday. Investors purchased 8,448 call options on the company. This is an increase of 142% compared to the average volume of 3,494 call options.

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). Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business posted $0.69 earnings per share. Seagate Technology PLC’s revenue was down 9.3% compared to the same quarter last year. On average, analysts anticipate that Seagate Technology PLC will post $3.65 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date was Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 97.67%.

In other news, insider Philip G. Brace acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was bought at an average price of $33.34 per share, with a total value of $33,340.00. Following the transaction, the insider now directly owns 62,855 shares in the company, valued at approximately $2,095,585.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Seagate Technology PLC by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after acquiring an additional 2,292,075 shares during the period. BlackRock Inc. grew its position in shares of Seagate Technology PLC by 1.4% in the 2nd quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock valued at $720,459,000 after acquiring an additional 256,005 shares during the period. ValueAct Holdings L.P. grew its position in shares of Seagate Technology PLC by 44.8% in the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after acquiring an additional 4,276,275 shares during the period. State Street Corp grew its position in shares of Seagate Technology PLC by 3.4% in the 1st quarter. State Street Corp now owns 11,253,471 shares of the data storage provider’s stock valued at $516,900,000 after acquiring an additional 374,218 shares during the period. Finally, LSV Asset Management grew its position in shares of Seagate Technology PLC by 1.7% in the 2nd quarter. LSV Asset Management now owns 6,521,232 shares of the data storage provider’s stock valued at $252,697,000 after acquiring an additional 106,811 shares during the period. 90.00% of the stock is owned by institutional investors.

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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