Vetr downgraded shares of Seagate Technology (NASDAQ:STX) from a strong-buy rating to a buy rating in a research report released on Tuesday morning. The firm currently has $45.46 price objective on the data storage provider’s stock.

STX has been the topic of several other reports. Cowen reiterated a hold rating and set a $36.00 target price on shares of Seagate Technology in a research report on Friday, October 13th. BidaskClub downgraded Seagate Technology from a strong-buy rating to a buy rating in a research report on Saturday, December 2nd. Jefferies Group set a $29.00 target price on Seagate Technology and gave the stock a hold rating in a research report on Sunday, October 15th. Mizuho reiterated a hold rating and set a $36.00 target price on shares of Seagate Technology in a research report on Monday, October 9th. Finally, Barclays increased their target price on Seagate Technology from $29.00 to $32.00 and gave the stock an underweight rating in a research report on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $41.53.

Shares of Seagate Technology (STX) opened at $42.12 on Tuesday. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. Seagate Technology has a 12-month low of $30.60 and a 12-month high of $50.96. The stock has a market capitalization of $11,714.51, a price-to-earnings ratio of 9.90, a PEG ratio of 0.54 and a beta of 1.67.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. 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 prior year, the business earned $0.99 earnings per share. The business’s revenue was down 5.9% on a year-over-year basis. sell-side analysts anticipate that Seagate Technology will post 3.99 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.98%. Seagate Technology’s dividend payout ratio (DPR) is 95.09%.

In related news, insider Jeffrey D. Nygaard bought 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of $37.38 per share, for a total transaction of $186,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Zander sold 15,089 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,481 shares of company stock worth $1,655,011. Company insiders own 0.87% of the company’s stock.

Several hedge funds have recently bought and sold shares of STX. WFG Advisors LP grew its stake in shares of Seagate Technology by 16,536.4% in the second 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. Balentine LLC grew its stake in shares of Seagate Technology by 56.8% in the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after buying an additional 1,619 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at about $150,000. SpiderRock Advisors LLC grew its stake in shares of Seagate Technology by 2,419.5% in the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after buying an additional 5,347 shares in the last quarter. Finally, Putnam FL Investment Management Co. acquired a new stake in shares of Seagate Technology in the third quarter valued at about $215,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

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About Seagate Technology

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 (NASDAQ:STX)

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