Seagate Technology (NASDAQ:STX)‘s stock had its “market perform” rating restated by equities researchers at Cowen in a report released on Monday, January 8th, Marketbeat.com reports. They presently have a $47.00 target price on the data storage provider’s stock, up from their prior target price of $39.00. Cowen’s price target points to a potential downside of 9.21% from the company’s previous close.
Several other brokerages also recently weighed in on STX. Vetr downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $44.36 price target on the stock. in a research report on Wednesday, January 3rd. Zacks Investment Research raised Seagate Technology from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Friday, January 5th. BidaskClub raised Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 8th. Guggenheim reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. Finally, KeyCorp reissued a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Seagate Technology has a consensus rating of “Hold” and a consensus target price of $49.29.
Shares of Seagate Technology (NASDAQ STX) opened at $51.77 on Monday. The firm has a market capitalization of $14,240.00, a PE ratio of 23.64, a price-to-earnings-growth ratio of 0.73 and a beta of 1.88. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.55 and a current ratio of 1.58. Seagate Technology has a 12-month low of $30.60 and a 12-month high of $56.45.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.86 billion. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. equities analysts anticipate that Seagate Technology will post 4.86 earnings per share for the current fiscal year.
In other 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 sale, the insider now owns 33,069 shares in the company, valued at approximately $1,216,608.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip G. Brace sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $46.44, for a total transaction of $557,280.00. Following the sale, the insider now owns 27,069 shares of the company’s stock, valued at approximately $1,257,084.36. The disclosure for this sale can be found here. Insiders sold a total of 784,797 shares of company stock worth $41,694,333 over the last ninety days. 0.87% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. WFG Advisors LP increased its holdings in Seagate Technology by 16,536.4% in the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after purchasing an additional 3,638 shares during the last quarter. Balentine LLC increased its holdings in Seagate Technology by 56.8% in the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after purchasing an additional 1,619 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Seagate Technology in the 2nd quarter valued at approximately $150,000. SeaCrest Wealth Management LLC acquired a new stake in Seagate Technology in the 4th quarter valued at approximately $174,000. Finally, SpiderRock Advisors LLC increased its holdings in Seagate Technology by 2,419.5% in the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after purchasing an additional 5,347 shares during the last quarter. Hedge funds and other institutional investors own 91.51% 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.
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