Loop Capital restated their buy rating on shares of Seagate Technology (NASDAQ:STX) in a research report report published on Tuesday, January 9th. They currently have a $55.00 target price on the data storage provider’s stock. The analysts noted that the move was a valuation call.
Other equities research analysts have also issued reports about the company. Citigroup lifted their price target on Seagate Technology from $34.00 to $41.00 and gave the company a neutral rating in a report on Tuesday, October 24th. Mizuho raised their price objective on Seagate Technology from $36.00 to $39.00 and gave the company a neutral rating in a research note on Monday, October 23rd. UBS Group raised their price objective on Seagate Technology from $28.00 to $30.00 and gave the company a sell rating in a research note on Tuesday, October 24th. KeyCorp reaffirmed a hold rating on shares of Seagate Technology in a research report on Monday, October 23rd. Finally, Royal Bank of Canada lifted their price target on Seagate Technology from $35.00 to $40.00 and gave the stock a sector perform rating in a research report on Tuesday, October 24th. Four equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $43.39.
Shares of Seagate Technology (NASDAQ:STX) traded up $0.63 during midday trading on Tuesday, reaching $52.14. The company’s stock had a trading volume of 4,110,000 shares, compared to its average volume of 4,840,000. Seagate Technology has a 12-month low of $30.60 and a 12-month high of $52.42. The firm has a market cap of $15,090.00, a price-to-earnings ratio of 19.75, a PEG ratio of 0.76 and a beta of 1.68. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. equities research analysts forecast that Seagate Technology will post 4.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th were given a dividend of $0.63 per share. The ex-dividend date was Tuesday, December 19th. This represents a $2.52 annualized dividend and a dividend yield of 4.83%. Seagate Technology’s dividend payout ratio is currently 95.45%.
In related news, insider Jeffrey D. Nygaard purchased 5,000 shares of Seagate Technology stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of $37.38 per share, with a total value of $186,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay L. Geldmacher sold 5,365 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $40.00, for a total value of $214,600.00. Following the transaction, the director now directly owns 8,715 shares of the company’s stock, valued at $348,600. The disclosure for this sale can be found here. Insiders have sold 199,744 shares of company stock valued at $9,317,320 over the last ninety days. 0.87% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. Vanguard Group Inc. increased its stake 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 worth $1,294,716,000 after purchasing an additional 2,292,075 shares during the period. ValueAct Holdings L.P. increased its stake 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 worth $711,782,000 after purchasing an additional 7,642,835 shares during the period. BlackRock Inc. increased its stake in shares of Seagate Technology by 1.4% during the second quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock worth $720,459,000 after purchasing an additional 256,005 shares during the period. APG Asset Management N.V. increased its stake in shares of Seagate Technology by 4.2% during the third quarter. APG Asset Management N.V. now owns 3,392,370 shares of the data storage provider’s stock worth $112,525,000 after purchasing an additional 135,300 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Seagate Technology by 28.5% during the third quarter. First Trust Advisors LP now owns 3,044,778 shares of the data storage provider’s stock worth $100,995,000 after purchasing an additional 674,442 shares during the period. 91.45% of the stock is owned by institutional investors.
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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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