Seagate Technology (STX) Receiving Somewhat Favorable News Coverage, Study Finds

Media headlines about Seagate Technology (NASDAQ:STX) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Seagate Technology earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave news articles about the data storage provider an impact score of 45.8604984453746 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

These are some of the news articles that may have impacted Accern Sentiment Analysis’s scoring:

Shares of STX stock traded up $0.05 during mid-day trading on Tuesday, reaching $58.27. The stock had a trading volume of 3,592,170 shares, compared to its average volume of 4,719,293. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $62.70. The stock has a market capitalization of $16,987.11, a price-to-earnings ratio of 14.14, a PEG ratio of 0.78 and a beta of 1.68. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The firm had revenue of $2.91 billion for 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%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 earnings per share. equities analysts predict that Seagate Technology will post 4.93 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Tuesday, March 20th. Seagate Technology’s payout ratio is 61.17%.

Several analysts have recently weighed in on the stock. ValuEngine cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Monday. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Thursday, April 12th. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $51.00 to $72.00 in a research report on Monday, April 9th. Royal Bank of Canada lifted their target price on shares of Seagate Technology to $62.00 and gave the stock a “market perform” rating in a research report on Monday, April 2nd. Finally, Cross Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.51.

In other news, CFO David H. Morton, Jr. sold 35,142 shares of Seagate Technology stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $55.00, for a total transaction of $1,932,810.00. Following the sale, the chief financial officer now owns 8,540 shares of the company’s stock, valued at approximately $469,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen J. Luczo sold 341,738 shares of Seagate Technology stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total transaction of $18,795,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 662,785 shares of company stock worth $36,396,992 in the last ninety days. Insiders own 0.87% of the company’s stock.

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Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.

Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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