Benchmark Co. reaffirmed their hold rating on shares of Seagate Technology PLC (NASDAQ:STX) in a research note published on Tuesday, October 24th.
A number of other brokerages have also recently commented on STX. Zacks Investment Research raised Seagate Technology PLC from a sell rating to a hold rating in a research report on Tuesday, July 25th. Mizuho decreased their price objective on Seagate Technology PLC from $41.00 to $36.00 and set a neutral rating on the stock in a research note on Tuesday, July 25th. Loop Capital assumed coverage on Seagate Technology PLC in a research note on Monday, July 24th. They set a buy rating and a $50.00 price objective on the stock. Barclays PLC lowered Seagate Technology PLC from an equal weight rating to an underweight rating and decreased their target price for the stock from $49.00 to $40.00 in a research note on Thursday, July 13th. Finally, Summit Redstone restated a sell rating on shares of Seagate Technology PLC in a research note on Saturday, July 22nd. Four 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 given a strong buy rating to the company’s stock. Seagate Technology PLC has a consensus rating of Hold and an average price target of C$41.29.
Seagate Technology PLC (NASDAQ STX) opened at C$37.99 on Tuesday. Seagate Technology PLC has a 1 year low of C$30.60 and a 1 year high of C$50.96. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. The firm has a market capitalization of $10,991.23, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.50 and a beta of 1.68.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Monday, October 23rd. The company reported C$0.96 EPS for the quarter, beating analysts’ consensus estimates of C$0.86 by C$0.10. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The firm had revenue of C$2.63 billion for the quarter, compared to analysts’ expectations of C$2.54 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. equities analysts expect that Seagate Technology PLC will post 3.98 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend is Tuesday, December 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 95.09%.
In related news, insider Philip G. Brace sold 5,403 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of C$36.79, for a total transaction of C$198,776.37. Following the completion of the transaction, the insider now owns 33,069 shares of the company’s stock, valued at approximately C$1,216,608.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffrey D. Nygaard acquired 5,000 shares of Seagate Technology PLC stock in a transaction that occurred on Friday, October 27th. The shares were bought at an average cost of C$37.38 per share, with a total value of C$186,900.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 24,527 shares of company stock valued at $856,859. 0.87% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Seagate Technology PLC by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the company’s stock worth $1,294,716,000 after purchasing an additional 2,292,075 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Seagate Technology PLC by 1.4% in the 2nd quarter. BlackRock Inc. now owns 18,592,514 shares of the company’s stock worth $720,459,000 after purchasing an additional 256,005 shares in the last quarter. ValueAct Holdings L.P. increased its holdings in shares of Seagate Technology PLC by 44.8% in the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the company’s stock worth $535,361,000 after purchasing an additional 4,276,275 shares in the last quarter. State Street Corp increased its holdings in shares of Seagate Technology PLC by 3.4% in the 1st quarter. State Street Corp now owns 11,253,471 shares of the company’s stock worth $516,900,000 after purchasing an additional 374,218 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of Seagate Technology PLC by 1.7% in the 2nd quarter. LSV Asset Management now owns 6,521,232 shares of the company’s stock worth $252,697,000 after purchasing an additional 106,811 shares in the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.
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.
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