Cross Research upgraded shares of Seagate Technology (NASDAQ:STX) from a sell rating to a hold rating in a report issued on Tuesday, Marketbeat.com reports.
Several other equities analysts have also weighed in on STX. Zacks Investment Research lowered shares of Seagate Technology from a hold rating to a strong sell rating in a report on Wednesday, September 20th. Craig Hallum raised shares of Seagate Technology from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Monday, October 2nd. ValuEngine raised shares of Seagate Technology from a hold rating to a buy rating in a report on Monday, October 2nd. Mizuho reaffirmed a hold rating and set a $36.00 target price on shares of Seagate Technology in a report on Monday, October 9th. Finally, Cowen reaffirmed a hold rating and set a $36.00 target price on shares of Seagate Technology in a report on Friday, October 13th. Four research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Seagate Technology currently has an average rating of Hold and a consensus price target of $43.39.
Seagate Technology (NASDAQ STX) traded up $0.61 on Tuesday, reaching $52.62. 3,869,628 shares of the company’s stock were exchanged, compared to its average volume of 4,396,961. Seagate Technology has a 12 month low of $30.60 and a 12 month high of $52.77. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. The stock has a market cap of $15,047.46, a price-to-earnings ratio of 19.86, a PEG ratio of 0.74 and a beta of 1.68.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Tuesday, December 19th. Seagate Technology’s payout ratio is presently 95.09%.
In other Seagate Technology news, Director Dambisa F. Moyo sold 8,715 shares of Seagate Technology stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $39.01, for a total transaction of $339,972.15. Following the sale, the director now owns 3,316 shares of the company’s stock, valued at approximately $129,357.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Philip G. Brace sold 5,403 shares of Seagate Technology stock in a transaction 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 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. In the last three months, insiders sold 199,744 shares of company stock valued at $9,317,320. 0.87% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in STX. WFG Advisors LP boosted its position in shares of Seagate Technology by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after acquiring an additional 3,638 shares during the last quarter. Balentine LLC boosted its position in shares of Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after acquiring an additional 1,619 shares during the last quarter. SpiderRock Advisors LLC boosted its position in shares of Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after acquiring an additional 5,347 shares during the last quarter. New England Research & Management Inc. acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $205,000. Finally, Lockheed Martin Investment Management Co. acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $209,000. 91.45% of the stock is currently owned by institutional investors.
About Seagate Technology
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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