Seagate Technology (NASDAQ:STX)‘s stock had its “hold” rating reaffirmed by investment analysts at Maxim Group in a research report issued to clients and investors on Tuesday, January 9th, Marketbeat.com reports. They presently have a $44.00 price objective on the data storage provider’s stock, up from their prior price objective of $43.00. Maxim Group’s price objective would suggest a potential downside of 15.01% from the stock’s previous close.
Other equities analysts have also issued reports about the company. BidaskClub lowered Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 12th. ValuEngine upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Craig Hallum upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Monday, October 2nd. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, October 26th. Finally, Vetr lowered Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 price objective on the stock. in a research report on Tuesday, October 31st. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $49.29.
Seagate Technology (NASDAQ STX) traded down $2.67 during trading hours on Tuesday, hitting $51.77. The company’s stock had a trading volume of 6,504,531 shares, compared to its average volume of 6,161,466. The company has a current ratio of 1.58, a quick ratio of 1.55 and a debt-to-equity ratio of 4.07. The stock has a market cap of $14,745.49, a PE ratio of 23.53, a P/E/G ratio of 0.68 and a beta of 1.88. Seagate Technology has a 1 year low of $30.60 and a 1 year high of $56.45.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.86 billion. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 EPS. equities analysts expect that Seagate Technology will post 4.86 earnings per share for the current fiscal year.
In other news, insider Stephen J. Luczo sold 341,738 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $55.00, for a total value of $18,795,590.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chong Sup Park sold 4,026 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.22, for a total value of $218,289.72. Following the completion of the transaction, the director now owns 8,715 shares of the company’s stock, valued at approximately $472,527.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 784,797 shares of company stock worth $41,694,333. Corporate insiders own 0.87% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP lifted its stake in shares of 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 period. Pacer Advisors Inc. purchased a new position in shares of Seagate Technology in the 2nd quarter valued at approximately $150,000. SeaCrest Wealth Management LLC purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $174,000. Balentine LLC lifted its stake in shares of 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 period. Finally, Advisor Partners LLC purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $258,000. Institutional investors own 91.51% 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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