Today, Seagate Technology PLC’s (STX) Equal Weight Rating Reiterated at Morgan Stanley

Today, Seagate Technology PLC’s (STX) Equal Weight Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Seagate Technology PLC (NASDAQ:STX) in a research note issued to investors on Wednesday morning. The firm currently has a $36.00 price objective on the data storage provider’s stock, up from their prior price objective of $30.00.

Several other equities analysts also recently weighed in on the stock. Vetr raised shares of Seagate Technology PLC from a buy rating to a strong-buy rating and set a $41.19 price target on the stock in a research note on Tuesday, October 11th. Jefferies Group reissued a buy rating and issued a $44.00 price target (up from $38.00) on shares of Seagate Technology PLC in a research note on Tuesday, October 11th. Seaport Global Securities raised their price target on shares of Seagate Technology PLC to $44.00 and gave the stock a neutral rating in a research note on Tuesday, October 11th. Cowen and Company raised their price target on shares of Seagate Technology PLC from $32.00 to $36.00 and gave the stock a market perform rating in a research note on Tuesday, October 11th. Finally, FBN Securities raised their price target on shares of Seagate Technology PLC from $33.00 to $38.00 and gave the stock a sector perform rating in a research note on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $38.35.

Seagate Technology PLC (NASDAQ:STX) opened at 35.16 on Wednesday. Seagate Technology PLC has a 52 week low of $18.42 and a 52 week high of $41.83. The firm has a 50-day moving average of $36.23 and a 200-day moving average of $29.09. The company has a market capitalization of $10.55 billion, a P/E ratio of 42.88 and a beta of 2.50.

Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.09. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period last year, the firm posted $0.77 earnings per share. Analysts anticipate that Seagate Technology PLC will post $3.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st were paid a dividend of $0.63 per share. The ex-dividend date was Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.17%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 307.32%.

In related news, SVP Mark Re sold 12,750 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $31.84, for a total value of $405,960.00. Following the sale, the senior vice president now directly owns 65,520 shares of the company’s stock, valued at approximately $2,086,156.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David H. Morton, Jr. sold 1,716 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total transaction of $62,050.56. Following the completion of the sale, the chief financial officer now directly owns 20,782 shares in the company, valued at $751,477.12. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Spirit of America Management Corp NY acquired a new stake in shares of Seagate Technology PLC during the third quarter worth approximately $104,000. Windward Capital Management Co. CA acquired a new stake in shares of Seagate Technology PLC during the third quarter worth approximately $468,000. Charter Trust Co. boosted its stake in shares of Seagate Technology PLC by 7.8% in the third quarter. Charter Trust Co. now owns 18,128 shares of the data storage provider’s stock worth $699,000 after buying an additional 1,315 shares during the last quarter. MSI Financial Services Inc boosted its stake in shares of Seagate Technology PLC by 9.7% in the third quarter. MSI Financial Services Inc now owns 7,648 shares of the data storage provider’s stock worth $295,000 after buying an additional 678 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Seagate Technology PLC by 3.9% in the third quarter. Capstone Asset Management Co. now owns 16,465 shares of the data storage provider’s stock worth $635,000 after buying an additional 620 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology PLC Company Profile

Related posts

Leave a Comment