Seagate Technology (STX) Sets New 52-Week High and Low at $62.70

Shares of Seagate Technology (NASDAQ:STX) reached a new 52-week high and low during trading on Tuesday . The company traded as low as $62.70 and last traded at $61.99, with a volume of 1533048 shares traded. The stock had previously closed at $61.15.

A number of analysts have recently commented on STX shares. TheStreet raised Seagate Technology from a “c+” rating to a “b-” rating in a research note on Tuesday, January 9th. Zacks Investment Research downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Craig Hallum reissued a “buy” rating and issued a $56.00 price objective (up previously from $50.00) on shares of Seagate Technology in a research note on Tuesday, January 9th. Loop Capital reissued a “buy” rating and issued a $55.00 price objective on shares of Seagate Technology in a research note on Tuesday, January 9th. They noted that the move was a valuation call. Finally, Cowen boosted their price objective on Seagate Technology from $39.00 to $47.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $53.51.

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The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 4.07. The firm has a market cap of $17,627.97, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.81 and a beta of 1.68.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. Seagate Technology’s revenue for the quarter was up .7% compared to the same quarter last year. sell-side analysts expect that Seagate Technology will post 4.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, March 20th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.06%. Seagate Technology’s dividend payout ratio is 61.17%.

In other news, insider Stephen J. Luczo sold 341,738 shares of Seagate Technology stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $55.00, for a total transaction of $18,795,590.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Chong Sup Park sold 4,026 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $54.22, for a total value of $218,289.72. Following the completion of the transaction, the director now owns 8,715 shares in the company, valued at approximately $472,527.30. The disclosure for this sale can be found here. Insiders have sold 662,785 shares of company stock worth $36,396,992 in the last quarter. 0.87% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of STX. Avestar Capital LLC purchased a new position in Seagate Technology in the fourth quarter valued at about $100,000. SeaCrest Wealth Management LLC purchased a new position in Seagate Technology in the fourth quarter valued at about $174,000. Brave Asset Management Inc. purchased a new position in Seagate Technology in the fourth quarter valued at about $203,000. New England Research & Management Inc. purchased a new position in Seagate Technology in the fourth quarter valued at about $205,000. Finally, Everence Capital Management Inc. purchased a new position in Seagate Technology in the fourth quarter valued at about $205,000. Hedge funds and other institutional investors own 89.04% 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.

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