Seagate Technology (NASDAQ:STX) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
STX has been the topic of a number of other reports. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, October 26th. Vetr raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating and set a $41.39 price target on the stock in a research note on Monday, November 6th. Argus reaffirmed a “hold” rating and set a $40.00 price target on shares of Seagate Technology in a research note on Tuesday, October 24th. Guggenheim reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Finally, Cowen reissued a “hold” rating and issued a $36.00 price objective on shares of Seagate Technology in a research note on Friday, October 13th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. Seagate Technology presently has a consensus rating of “Hold” and a consensus price target of $41.53.
Seagate Technology (STX) opened at $40.49 on Friday. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. Seagate Technology has a 12 month low of $30.60 and a 12 month high of $50.96. The firm has a market cap of $11,714.53, 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 posted its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the company posted $0.99 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. research analysts predict that Seagate Technology will post 3.99 earnings per share for the current year.
In other Seagate Technology news, Director Edward J. Zander sold 15,089 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David H. Morton, Jr. sold 7,909 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $40.00, for a total transaction of $316,360.00. Following the completion of the transaction, the chief financial officer now owns 25,561 shares in the company, valued at $1,022,440. 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. 0.87% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in STX. JPMorgan Chase & Co. lifted its holdings in shares of Seagate Technology by 74.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock worth $63,947,000 after acquiring an additional 703,822 shares during the period. CIBC World Markets Inc. purchased a new position in shares of Seagate Technology during the 2nd quarter worth about $9,699,000. Aviva PLC lifted its holdings in shares of Seagate Technology by 2.8% during the 2nd quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock worth $7,022,000 after acquiring an additional 4,950 shares during the period. Assetmark Inc. lifted its holdings in shares of Seagate Technology by 43.5% during the 3rd quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock worth $4,835,000 after acquiring an additional 44,171 shares during the period. Finally, LMR Partners LLP raised its holdings in Seagate Technology by 390.9% in the second quarter. LMR Partners LLP now owns 24,762 shares of the data storage provider’s stock valued at $959,000 after buying an additional 19,718 shares during the period. Institutional investors own 91.76% of the company’s stock.
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Seagate Technology Company Profile
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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