Seagate Technology PLC (NASDAQ:STX) had its price objective hoisted by investment analysts at Citigroup Inc. from $34.00 to $41.00 in a note issued to investors on Tuesday, October 24th. The firm presently has a “neutral” rating on the stock.
STX has been the topic of several other reports. BidaskClub lowered Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 12th. Benchmark Co. lowered Seagate Technology PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Guggenheim reiterated a “hold” rating on shares of Seagate Technology PLC in a research report on Monday, October 23rd. Cowen and Company reiterated a “hold” rating and set a $36.00 price objective on shares of Seagate Technology PLC in a research report on Friday, October 13th. Finally, Jefferies Group LLC lowered Seagate Technology PLC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $29.00 in a research report on Monday, September 11th. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of C$41.29.
Seagate Technology PLC (STX) opened at C$37.99 on Tuesday. The firm has a market capitalization of $10,991.23, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.50 and a beta of 1.68. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. Seagate Technology PLC has a one year low of C$30.60 and a one year high of C$50.96.
Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Monday, October 23rd. The company reported C$0.96 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.86 by C$0.10. The business had revenue of C$2.63 billion for the quarter, compared to analyst estimates of C$2.54 billion. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. equities analysts predict that Seagate Technology PLC will post 3.98 earnings per share for the current fiscal year.
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In other Seagate Technology PLC news, insider Philip G. Brace sold 5,403 shares of Seagate Technology PLC stock in a transaction on Monday, November 6th. The stock was sold at an average price of C$36.79, for a total value of C$198,776.37. Following the completion of the sale, 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 the SEC website. Also, insider Jeffrey D. Nygaard acquired 5,000 shares of Seagate Technology PLC stock in a transaction on Friday, October 27th. The shares were bought at an average cost of C$37.38 per share, for a total transaction of C$186,900.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 24,527 shares of company stock valued at $856,859. Corporate insiders own 0.87% of the company’s stock.
Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of Seagate Technology PLC by 74.4% during the second quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the company’s stock valued at $63,947,000 after buying an additional 703,822 shares during the period. CIBC World Markets Inc. purchased a new position in shares of Seagate Technology PLC during the second quarter valued at approximately $9,699,000. Aviva PLC boosted its position in shares of Seagate Technology PLC by 2.8% during the second quarter. Aviva PLC now owns 181,216 shares of the company’s stock valued at $7,022,000 after buying an additional 4,950 shares during the period. Meridian Wealth Management LLC boosted its position in shares of Seagate Technology PLC by 7.9% during the second quarter. Meridian Wealth Management LLC now owns 8,284 shares of the company’s stock valued at $321,000 after buying an additional 604 shares during the period. Finally, Sii Investments Inc. WI boosted its position in shares of Seagate Technology PLC by 4.3% during the first quarter. Sii Investments Inc. WI now owns 6,465 shares of the company’s stock valued at $295,000 after buying an additional 269 shares during the period. Institutional investors and hedge funds own 89.82% 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.
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