The Seagate Technology PLC’s (STX) “Neutral” Rating Reiterated at Robert W. Baird

The Seagate Technology PLC’s (STX) “Neutral” Rating Reiterated at Robert W. Baird

Robert W. Baird reissued their neutral rating on shares of Seagate Technology PLC (NASDAQ:STX) in a report published on Wednesday. They currently have a $37.00 price objective on the data storage provider’s stock, up from their prior price objective of $32.00.

A number of other research analysts have also weighed in on STX. Brean Capital restated a buy rating and issued a $30.00 target price on shares of Seagate Technology PLC in a report on Thursday, June 30th. FBN Securities raised their target price on Seagate Technology PLC from $33.00 to $38.00 and gave the company a sector perform rating in a report on Tuesday, October 11th. Seaport Global Securities raised their target price on Seagate Technology PLC to $44.00 and gave the company a neutral rating in a report on Tuesday, October 11th. Zacks Investment Research raised Seagate Technology PLC from a hold rating to a buy rating and set a $33.00 price target for the company in a research report on Thursday, July 14th. Finally, Needham & Company LLC reaffirmed a strong-buy rating and set a $39.00 price target (up from $33.00) on shares of Seagate Technology PLC in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology PLC presently has an average rating of Hold and a consensus price target of $38.35.

Shares of Seagate Technology PLC (NASDAQ:STX) opened at 35.01 on Wednesday. The company has a 50-day moving average price of $36.28 and a 200 day moving average price of $29.02. The company has a market capitalization of $10.51 billion, a P/E ratio of 42.70 and a beta of 2.50. Seagate Technology PLC has a 1-year low of $18.42 and a 1-year high of $41.83.

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

The company also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.20%. Seagate Technology PLC’s dividend payout ratio (DPR) is 307.32%.

In other news, SVP Mark Re sold 12,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was 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 legal filing with the SEC, which is accessible through the SEC website. Also, CFO David H. Morton, Jr. sold 1,716 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $36.16, for a total value 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. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Hanlon Investment Management Inc. boosted its stake in shares of Seagate Technology PLC by 111.1% in the first quarter. Hanlon Investment Management Inc. now owns 228,173 shares of the data storage provider’s stock worth $7,861,000 after buying an additional 120,093 shares in the last quarter. BB&T Securities LLC boosted its stake in shares of Seagate Technology PLC by 4.3% in the first quarter. BB&T Securities LLC now owns 57,412 shares of the data storage provider’s stock worth $1,977,000 after buying an additional 2,374 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Seagate Technology PLC by 5.4% in the first quarter. M&T Bank Corp now owns 31,140 shares of the data storage provider’s stock worth $1,074,000 after buying an additional 1,604 shares in the last quarter. Sentry Investment Management LLC boosted its stake in shares of Seagate Technology PLC by 5.7% in the first quarter. Sentry Investment Management LLC now owns 18,682 shares of the data storage provider’s stock worth $644,000 after buying an additional 1,006 shares in the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in shares of Seagate Technology PLC by 1.6% in the first quarter. BlackRock Japan Co. Ltd now owns 396,145 shares of the data storage provider’s stock worth $13,647,000 after buying an additional 6,109 shares in the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology PLC Company Profile

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