Seagate Technology (STX) Given Hold Rating at Maxim Group

Maxim Group restated their hold rating on shares of Seagate Technology (NASDAQ:STX) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm currently has a $44.00 price target on the data storage provider’s stock, up from their prior price target of $43.00.

A number of other research firms have also weighed in on STX. Cowen reiterated a hold rating and set a $36.00 target price on shares of Seagate Technology in a report on Friday, October 13th. BidaskClub lowered shares of Seagate Technology from a strong-buy rating to a buy rating in a report on Saturday, December 2nd. Jefferies Group set a $29.00 target price on shares of Seagate Technology and gave the stock a hold rating in a report on Sunday, October 15th. Mizuho reiterated a hold rating and set a $36.00 target price on shares of Seagate Technology in a report on Monday, October 9th. Finally, Barclays increased their target price on shares of Seagate Technology from $29.00 to $32.00 and gave the stock an underweight rating in a report on Tuesday, October 24th. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $43.39.

Shares of Seagate Technology (NASDAQ:STX) opened at $51.26 on Tuesday. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The firm has a market cap of $14,830.00, a PE ratio of 19.42, a PEG ratio of 0.57 and a beta of 1.68. Seagate Technology has a 1-year low of $30.60 and a 1-year high of $51.88.

Seagate Technology (NASDAQ:STX) last posted its 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. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. Seagate Technology’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. research analysts predict that Seagate Technology will post 4 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Tuesday, December 19th. Seagate Technology’s dividend payout ratio is 95.45%.

In other Seagate Technology news, insider Philip G. Brace sold 5,403 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $36.79, for a total transaction of $198,776.37. Following the completion of the transaction, the insider now owns 33,069 shares of the company’s stock, valued at $1,216,608.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Stephen J. Luczo sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $48.99, for a total transaction of $4,899,000.00. Following the transaction, the chairman now directly owns 95,420 shares of the company’s stock, valued at approximately $4,674,625.80. The disclosure for this sale can be found here. Insiders have sold 194,744 shares of company stock valued at $9,075,320 in the last ninety days. Insiders own 0.87% of the company’s stock.

Several large investors have recently bought and sold shares of STX. ValueAct Holdings L.P. grew its holdings in shares of Seagate Technology by 55.3% during the third quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after buying an additional 7,642,835 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Seagate Technology by 7,384.8% during the second quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock valued at $104,662,000 after buying an additional 2,664,861 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Seagate Technology by 7.4% during the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after buying an additional 2,292,075 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Seagate Technology by 39.4% during the third quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock valued at $96,064,000 after buying an additional 817,861 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Seagate Technology by 74.4% during the second quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock valued at $63,947,000 after buying an additional 703,822 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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About Seagate Technology

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 (NASDAQ:STX)

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