An issue of Seagate Technology PLC (NASDAQ:STX) debt rose 1.4% as a percentage of its face value during trading on Monday. The high-yield debt issue has a 5.75% coupon and will mature on December 1, 2034. The bonds in the issue are now trading at $96.50 and were trading at $95.13 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
STX has been the topic of several recent research reports. BidaskClub downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Mizuho increased their price target on shares of Seagate Technology from $39.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Craig Hallum reiterated a “buy” rating and issued a $56.00 price target (up from $50.00) on shares of Seagate Technology in a research report on Tuesday, January 9th. Cowen reiterated a “market perform” rating and issued a $47.00 price target (up from $39.00) on shares of Seagate Technology in a research report on Monday, January 8th. Finally, Royal Bank of Canada increased their price target on shares of Seagate Technology to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 9th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $50.60.
Shares of Seagate Technology PLC (NASDAQ STX) traded up $0.02 during midday trading on Monday, hitting $60.21. 3,245,835 shares of the stock were exchanged, compared to its average volume of 4,840,000. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07. The stock has a market capitalization of $17,150.00, a PE ratio of 27.49, a PEG ratio of 0.79 and a beta of 1.84. Seagate Technology PLC has a 1 year low of $30.60 and a 1 year high of $60.63.
Seagate Technology (NASDAQ:STX) last posted its earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. Seagate Technology’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $1.38 earnings per share. sell-side analysts expect that Seagate Technology PLC will post 4.87 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.52 annualized dividend and a yield of 4.19%. Seagate Technology’s payout ratio is 115.07%.
In related news, EVP James J. Murphy sold 14,175 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $55.16, for a total transaction of $781,893.00. Following the completion of the transaction, the executive vice president now directly owns 24,585 shares of the company’s stock, valued at $1,356,108.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David H. Morton, Jr. sold 40,263 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $48.78, for a total transaction of $1,964,029.14. Following the transaction, the chief financial officer now directly owns 65,824 shares of the company’s stock, valued at $3,210,894.72. The disclosure for this sale can be found here. Insiders have sold 810,048 shares of company stock valued at $43,459,301 over the last ninety days. 0.87% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its position in Seagate Technology by 13.7% during the fourth quarter. Toronto Dominion Bank now owns 124,536 shares of the data storage provider’s stock valued at $5,210,000 after purchasing an additional 14,969 shares during the last quarter. Assetmark Inc. lifted its position in Seagate Technology by 43.5% during the third quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock valued at $4,835,000 after purchasing an additional 44,171 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Seagate Technology by 12.3% in the 4th quarter. Eagle Asset Management Inc. now owns 887,990 shares of the data storage provider’s stock worth $37,517,000 after acquiring an additional 97,072 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in shares of Seagate Technology in the 4th quarter worth about $346,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Seagate Technology in the 4th quarter worth about $420,000. Institutional investors and hedge funds own 88.84% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Seagate Technology (STX) Bond Prices Rise 1.4%” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2018/03/12/seagate-technology-stx-bond-prices-rise-1-4.html.
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.
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.