Seagate Technology PLC (NASDAQ:STX) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other brokerages also recently commented on STX. Royal Bank Of Canada reiterated a “hold” rating and issued a $45.00 target price on shares of Seagate Technology PLC in a report on Friday, June 9th. Aegis initiated coverage on shares of Seagate Technology PLC in a research report on Tuesday, June 13th. They set a “buy” rating and a $50.00 price target on the stock. Evercore ISI initiated coverage on shares of Seagate Technology PLC in a report on Friday, June 16th. They set an “in-line” rating and a $48.00 price target on the stock. Barclays PLC cut shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $49.00 to $40.00 in a report on Thursday, July 13th. Finally, Morgan Stanley reaffirmed 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. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.79.

Seagate Technology PLC (NASDAQ STX) traded up 3.11% during trading on Monday, reaching $34.20. The company had a trading volume of 7,403,049 shares. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 13.26 and a beta of 1.72. The company has a 50-day moving average price of $32.30 and a 200 day moving average price of $39.32. Seagate Technology PLC has a one year low of $30.60 and a one year high of $50.96. Seagate Technology PLC also was the target of some unusual options trading on Friday. Stock investors acquired 5,491 put options on the stock. This represents an increase of 165% compared to the average volume of 2,070 put options.

Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.34). The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. Seagate Technology PLC’s revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Analysts expect that Seagate Technology PLC will post $3.66 earnings per share for the current year.

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In related news, insider Philip G. Brace acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased 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 valued at $63,947,000 after acquiring an additional 703,822 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in Seagate Technology PLC during the second quarter valued at about $9,699,000. Aviva PLC raised its position in Seagate Technology PLC by 2.8% during the second quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock valued at $7,022,000 after purchasing an additional 4,950 shares in the last quarter. Meridian Wealth Management LLC raised its position in Seagate Technology PLC by 7.9% during the second quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 604 shares in the last quarter. Finally, Sii Investments Inc. WI raised its position in Seagate Technology PLC by 4.3% during the first quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock valued at $295,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 90.00% of the company’s stock.

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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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