Seagate Technology (NASDAQ:STX)‘s stock had its “hold” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued on Thursday, AnalystRatings.com reports. They currently have a $48.00 price objective on the data storage provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 6.15% from the company’s previous close.
A number of other brokerages have also recently issued reports on STX. Robert W. Baird reissued a “buy” rating and issued a $65.00 price objective on shares of Seagate Technology in a research note on Thursday, April 23rd. Rosenblatt Securities reduced their price target on shares of Seagate Technology from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday. BidaskClub lowered shares of Seagate Technology from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Sanford C. Bernstein initiated coverage on Seagate Technology in a report on Tuesday, July 14th. They issued a “market perform” rating and a $45.00 target price for the company. Finally, Summit Insights upgraded Seagate Technology from a “sell” rating to a “hold” rating in a report on Wednesday. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.00.
Shares of Seagate Technology stock opened at $45.22 on Thursday. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 6.91 and a beta of 1.03. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 2.33. Seagate Technology has a twelve month low of $39.02 and a twelve month high of $64.17. The company’s 50 day moving average is $48.53 and its 200 day moving average is $50.95.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.20. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.62 billion. Seagate Technology had a return on equity of 68.62% and a net margin of 9.55%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. Sell-side analysts expect that Seagate Technology will post 5.31 EPS for the current fiscal year.
In other news, Director Stephen J. Luczo sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $51.74, for a total transaction of $362,180.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ban Seng Teh sold 498 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $52.80, for a total value of $26,294.40. Following the transaction, the senior vice president now directly owns 11,197 shares of the company’s stock, valued at $591,201.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,493 shares of company stock valued at $1,059,254. Insiders own 1.12% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Sheaff Brock Investment Advisors LLC lifted its position in shares of Seagate Technology by 2.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,550 shares of the data storage provider’s stock worth $368,000 after buying an additional 203 shares during the last quarter. Bell Bank lifted its stake in shares of Seagate Technology by 0.4% in the first quarter. Bell Bank now owns 55,355 shares of the data storage provider’s stock worth $2,701,000 after buying an additional 223 shares during the last quarter. Icon Wealth Partners LLC lifted its stake in shares of Seagate Technology by 3.4% in the first quarter. Icon Wealth Partners LLC now owns 7,410 shares of the data storage provider’s stock worth $362,000 after buying an additional 243 shares during the last quarter. Liberty Wealth Management LLC grew its stake in Seagate Technology by 64.3% in the 1st quarter. Liberty Wealth Management LLC now owns 705 shares of the data storage provider’s stock valued at $34,000 after buying an additional 276 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Seagate Technology by 48.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 869 shares of the data storage provider’s stock worth $41,000 after acquiring an additional 282 shares during the period. 83.55% of the stock is owned by institutional investors.
Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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