Seagate Technology PLC (NASDAQ:STX) – Analysts at KeyCorp lifted their Q2 2019 earnings per share (EPS) estimates for shares of Seagate Technology in a research report issued to clients and investors on Monday, according to Zacks Investment Research. KeyCorp analyst W. Twigg now anticipates that the data storage provider will post earnings of $1.56 per share for the quarter, up from their prior forecast of $1.38. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Seagate Technology’s Q3 2019 earnings at $1.22 EPS and Q4 2019 earnings at $1.03 EPS.
Several other equities research analysts also recently weighed in on STX. FBN Securities restated a “sector perform” rating and issued a $40.00 target price (up from $32.00) on shares of Seagate Technology in a research note on Monday, October 23rd. Mizuho raised their target price on shares of Seagate Technology from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Guggenheim restated a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. BMO Capital Markets restated a “hold” rating and issued a $40.00 target price on shares of Seagate Technology in a research note on Monday, October 23rd. Finally, Royal Bank of Canada lifted their price objective on shares of Seagate Technology from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 24th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $49.76.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.86 billion. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. Seagate Technology’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.52 dividend on an annualized basis and a yield of 4.91%. Seagate Technology’s payout ratio is 115.07%.
In other Seagate Technology news, insider Philip G. Brace sold 12,000 shares of Seagate Technology stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $46.44, for a total value of $557,280.00. Following the completion of the transaction, the insider now owns 27,069 shares of the company’s stock, valued at $1,257,084.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip G. Brace sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $48.40, for a total transaction of $242,000.00. Following the sale, the insider now directly owns 16,069 shares of the company’s stock, valued at approximately $777,739.60. The disclosure for this sale can be found here. Insiders sold 779,394 shares of company stock valued at $41,495,557 in the last ninety days. 0.87% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in STX. Teachers Advisors LLC increased its stake in Seagate Technology by 4.0% during the 2nd quarter. Teachers Advisors LLC now owns 60,852 shares of the data storage provider’s stock worth $2,358,000 after buying an additional 2,325 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Seagate Technology by 53.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 74,937 shares of the data storage provider’s stock valued at $2,904,000 after purchasing an additional 26,097 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Seagate Technology by 2.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 24,808 shares of the data storage provider’s stock valued at $962,000 after purchasing an additional 617 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Seagate Technology by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,216,875 shares of the data storage provider’s stock valued at $47,156,000 after purchasing an additional 53,722 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $2,375,000. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
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.
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