Seagate Technology PLC (STX) PT Set at $29.00 by Jefferies Group LLC

Seagate Technology PLC (NASDAQ:STX) received a $29.00 price target from Jefferies Group LLC in a research report issued to clients and investors on Sunday. The firm presently has a “hold” rating on the data storage provider’s stock. Jefferies Group LLC’s price objective would indicate a potential downside of 15.92% from the stock’s current price.

Several other research analysts have also commented on the stock. Cowen and Company reissued a “hold” rating and issued a $36.00 price objective on shares of Seagate Technology PLC in a research note on Friday. Mizuho reissued a “hold” rating and issued a $36.00 price objective on shares of Seagate Technology PLC in a research note on Monday, October 9th. ValuEngine raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Craig Hallum raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Seagate Technology PLC presently has a consensus rating of “Hold” and a consensus target price of $40.70.

Shares of Seagate Technology PLC (NASDAQ:STX) opened at 34.49 on Friday. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 13.37 and a beta of 1.72. The stock has a 50 day moving average of $32.90 and a 200 day moving average of $38.57.

Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $2.56 billion. During the same period in the previous year, the business posted $0.69 EPS. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. Analysts forecast that Seagate Technology PLC will post $3.63 earnings per share for the current year.

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In related news, insider Philip G. Brace bought 1,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of STX. BlackRock Inc. boosted its position in shares of Seagate Technology PLC by 3,179.5% during the 1st quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock worth $842,196,000 after purchasing an additional 17,777,387 shares in the last quarter. ValueAct Holdings L.P. boosted its position in shares of Seagate Technology PLC by 44.8% during the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock worth $535,361,000 after purchasing an additional 4,276,275 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Seagate Technology PLC by 7,384.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock worth $104,662,000 after purchasing an additional 2,664,861 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Seagate Technology PLC by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after purchasing an additional 2,292,075 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Seagate Technology PLC by 1,387.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,292,893 shares of the data storage provider’s stock worth $59,383,000 after purchasing an additional 1,205,993 shares in the last quarter. Institutional investors own 90.08% of the company’s stock.

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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