Seagate Technology PLC (NASDAQ:STX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Stifel Nicolaus in a report released on Tuesday. They currently have a $35.00 target price on the data storage provider’s stock. Stifel Nicolaus’ target price would suggest a potential downside of 4.24% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the stock. Vetr cut shares of Seagate Technology PLC from a “sell” rating to a “strong sell” rating and set a $28.00 price target on the stock. in a research report on Monday, August 15th. Craig Hallum boosted their price target on shares of Seagate Technology PLC from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 7th. BMO Capital Markets restated a “market perform” rating on shares of Seagate Technology PLC in a research report on Wednesday, June 22nd. Jefferies Group boosted their price target on shares of Seagate Technology PLC from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Finally, Royal Bank Of Canada boosted their price target on shares of Seagate Technology PLC from $31.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 31st. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $34.26.
Shares of Seagate Technology PLC (NASDAQ:STX) traded down 1.45% on Tuesday, reaching $36.02. 1,346,934 shares of the company’s stock traded hands. Seagate Technology PLC has a 12-month low of $18.42 and a 12-month high of $49.52. The stock has a 50-day moving average of $32.80 and a 200 day moving average of $28.56. The firm has a market cap of $10.76 billion, a P/E ratio of 43.93 and a beta of 2.46.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/13/seagate-technology-plc-stx-receives-hold-rating-from-stifel-nicolaus-2.html
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings data on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.09. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. On average, equities research analysts expect that Seagate Technology PLC will post $2.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st will be given a dividend of $0.63 per share. The ex-dividend date is Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.89%. Seagate Technology PLC’s dividend payout ratio (DPR) is 307.32%.
In related news, SVP Mark Re sold 12,750 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $31.84, for a total value of $405,960.00. Following the completion of the transaction, the senior vice president now directly owns 65,520 shares of the company’s stock, valued at approximately $2,086,156.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Biondi sold 1,251 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $32.45, for a total value of $40,594.95. Following the completion of the transaction, the director now directly owns 6,433 shares of the company’s stock, valued at $208,750.85. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Seagate Technology PLC during the fourth quarter worth about $119,207,000. BlackRock Fund Advisors increased its stake in shares of Seagate Technology PLC by 47.3% in the first quarter. BlackRock Fund Advisors now owns 8,121,266 shares of the data storage provider’s stock worth $279,778,000 after buying an additional 2,607,145 shares during the period. PGGM Investments increased its stake in shares of Seagate Technology PLC by 96.4% in the second quarter. PGGM Investments now owns 1,423,321 shares of the data storage provider’s stock worth $34,672,000 after buying an additional 698,632 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Seagate Technology PLC by 944.4% in the second quarter. Eagle Asset Management Inc. now owns 710,896 shares of the data storage provider’s stock worth $17,317,000 after buying an additional 642,829 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Seagate Technology PLC during the second quarter worth about $36,175,000. 83.96% of the stock is owned by hedge funds and other institutional investors.
About Seagate Technology PLC
Seagate Technology plc (Seagate) is a provider of electronic data storage products. The Company’s products are hard disk drives (HDD). The Company produces a range of electronic data storage products, including solid state hybrid drives (SSHD), solid state drives (SSD), peripheral component interconnect express (PCIe) cards and Serial AT Attachment (SATA) controllers.
Receive News & Ratings for Seagate Technology PLC Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Seagate Technology PLC and related companies with MarketBeat.com’s FREE daily email newsletter.