Seagate Technology (STX) Downgraded by BidaskClub to “Hold”

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Seagate Technology (NASDAQ:STX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities research analysts also recently issued research reports about the stock. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Tuesday, February 5th. Zacks Investment Research raised shares of Seagate Technology from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Deutsche Bank assumed coverage on shares of Seagate Technology in a research note on Thursday, December 13th. They set a “hold” rating on the stock. ValuEngine downgraded shares of Seagate Technology from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 17th. Finally, Mizuho reaffirmed a “neutral” rating on shares of Seagate Technology in a research note on Tuesday, February 5th. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the company’s stock. Seagate Technology has an average rating of “Hold” and a consensus target price of $45.50.

Shares of STX stock opened at $47.19 on Friday. Seagate Technology has a 52 week low of $35.38 and a 52 week high of $62.70. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $13.31 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 5.16 and a beta of 1.65.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Monday, February 4th. The data storage provider reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Seagate Technology had a net margin of 14.77% and a return on equity of 105.74%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the firm posted $1.48 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities analysts expect that Seagate Technology will post 4.66 earnings per share for the current year.

In other news, Director Stephen J. Luczo sold 50,000 shares of Seagate Technology stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $45.67, for a total value of $2,283,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Holdings L.P. Valueact purchased 725,000 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was acquired at an average cost of $44.60 per share, with a total value of $32,335,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,700,000 shares of company stock valued at $166,497,500 and have sold 120,832 shares valued at $5,541,064. 1.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Waratah Capital Advisors Ltd. acquired a new position in shares of Seagate Technology in the 4th quarter valued at about $60,000. Essex Savings Bank acquired a new position in shares of Seagate Technology in the 4th quarter valued at about $70,000. Financial Gravity Companies Inc. acquired a new position in shares of Seagate Technology in the 4th quarter valued at about $75,000. Certified Advisory Corp boosted its holdings in shares of Seagate Technology by 17.5% in the 4th quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock valued at $78,000 after buying an additional 302 shares during the period. Finally, Girard Partners LTD. acquired a new position in shares of Seagate Technology in the 3rd quarter valued at about $108,000. 94.39% of the stock is owned by institutional investors and hedge funds.

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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