Seagate Technology PLC (NASDAQ:STX)‘s stock had its “hold” rating reissued by equities research analysts at KeyCorp in a report issued on Monday.

Other equities research analysts have also recently issued reports about the company. Loop Capital initiated coverage on Seagate Technology PLC in a report on Monday, July 24th. They set a “buy” rating and a $50.00 price target on the stock. ValuEngine cut Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. BidaskClub lowered Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Craig Hallum upgraded Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, October 2nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $37.00 price objective (down previously from $40.00) on shares of Seagate Technology PLC in a research report on Thursday, July 13th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.10.

Seagate Technology PLC (NASDAQ STX) traded up 12.62% during trading on Monday, reaching $39.35. The company had a trading volume of 33,593,785 shares. The firm’s 50-day moving average price is $33.27 and its 200 day moving average price is $38.26. Seagate Technology PLC has a one year low of $30.60 and a one year high of $50.96. The firm has a market capitalization of $11.33 billion, a P/E ratio of 15.25 and a beta of 1.72.

Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.11. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Equities analysts forecast that Seagate Technology PLC will post $3.63 earnings per share for the current fiscal year.

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

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Seagate Technology PLC by 74.4% in the second quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock worth $63,947,000 after buying an additional 703,822 shares in the last quarter. CIBC World Markets Inc. bought a new position in Seagate Technology PLC in the second quarter worth approximately $9,699,000. Aviva PLC raised its stake in Seagate Technology PLC by 2.8% in the second quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock worth $7,022,000 after buying an additional 4,950 shares in the last quarter. Meridian Wealth Management LLC raised its stake in Seagate Technology PLC by 7.9% in the second quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock worth $321,000 after buying an additional 604 shares in the last quarter. Finally, Sii Investments Inc. WI raised its stake in Seagate Technology PLC by 4.3% in the first quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock worth $295,000 after buying an additional 269 shares in the last quarter. 90.08% of the stock is owned by hedge funds and other 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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