Seagate Technology PLC (NASDAQ:STX) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday, November 6th. The brokerage currently has a $41.39 price target on the data storage provider’s stock. Vetr‘s price objective indicates a potential upside of 10.40% from the company’s current price.
A number of other equities research analysts also recently weighed in on STX. Zacks Investment Research upgraded Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a “neutral” rating and set a $38.00 price objective (down from $45.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $37.00 price objective (down from $40.00) on shares of Seagate Technology PLC in a research note on Thursday, July 13th. FBN Securities reaffirmed a “sector perform” rating and set a $40.00 price objective (up from $32.00) on shares of Seagate Technology PLC in a research note on Monday, October 23rd. Finally, Mizuho decreased their target price on Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, July 25th. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $41.29.
Seagate Technology PLC (NASDAQ:STX) opened at $37.49 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. The company has a market capitalization of $10,895.74, a P/E ratio of 9.21, a P/E/G ratio of 0.50 and a beta of 1.68. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. analysts forecast that Seagate Technology PLC will post 3.98 earnings per share for the current fiscal year.
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In related news, insider Jeffrey D. Nygaard purchased 5,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were bought at an average price of $37.38 per share, with a total value of $186,900.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Philip G. Brace sold 5,403 shares of Seagate Technology PLC stock in a transaction that occurred on Monday, November 6th. The stock was 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 directly owns 33,069 shares in the company, valued at approximately $1,216,608.51. The disclosure for this sale can be found here. Insiders have sold a total of 24,527 shares of company stock valued at $856,859 in the last quarter. Company insiders own 0.87% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. ValueAct Holdings L.P. raised its holdings in Seagate Technology PLC by 55.3% during the 3rd quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after acquiring an additional 7,642,835 shares during the period. Vident Investment Advisory LLC bought a new stake in Seagate Technology PLC during the 3rd quarter valued at $297,000. KSA Capital Management LLC raised its holdings in Seagate Technology PLC by 80.0% during the 3rd quarter. KSA Capital Management LLC now owns 18,000 shares of the data storage provider’s stock valued at $597,000 after acquiring an additional 8,000 shares during the period. Asset Management One Co. Ltd. raised its holdings in Seagate Technology PLC by 1,037.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 446,479 shares of the data storage provider’s stock valued at $14,810,000 after acquiring an additional 407,216 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Seagate Technology PLC by 7.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 75,968 shares of the data storage provider’s stock valued at $2,530,000 after acquiring an additional 5,500 shares during the period. 90.30% of the stock is currently owned by institutional investors and hedge funds.
Seagate Technology PLC 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.
To view Vetr’s full report, visit Vetr’s official website.
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