Seagate Technology PLC (NASDAQ:STX) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $40.88 price target on the data storage provider’s stock. Vetr‘s target price would suggest a potential upside of 6.07% from the company’s previous close.

A number of other research analysts have also issued reports on the company. RBC Capital Markets reiterated a “sector perform” rating and issued a $40.00 target price (up from $34.00) on shares of Seagate Technology PLC in a report on Monday. Royal Bank Of Canada lifted their target price on Seagate Technology PLC from $34.00 to $40.00 and gave the company a “sector perform” rating in a report on Monday. Barclays PLC reiterated an “equal weight” rating and issued a $40.00 target price (up from $36.00) on shares of Seagate Technology PLC in a report on Thursday, September 29th. Brean Capital reaffirmed a “buy” rating and set a $42.00 price target on shares of Seagate Technology PLC in a report on Wednesday, September 28th. Finally, Zacks Investment Research downgraded Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $34.72.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

Seagate Technology PLC (NASDAQ:STX) opened at 38.54 on Tuesday. The stock has a market capitalization of $11.57 billion, a PE ratio of 47.00 and a beta of 2.50. Seagate Technology PLC has a 52-week low of $18.42 and a 52-week high of $49.50. The stock’s 50 day moving average price is $35.36 and its 200-day moving average price is $28.93.

Seagate Technology PLC (NASDAQ:STX) last released its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.09. The firm earned $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. Seagate Technology PLC’s revenue was down 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. On average, equities analysts expect that Seagate Technology PLC will post $3.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.54%. Seagate Technology PLC’s payout ratio is 307.32%.

In other news, CFO David H. Morton, Jr. sold 1,716 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was 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 approximately $751,477.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mark Re sold 12,750 shares of the company’s stock in a transaction 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 owns 65,520 shares of the company’s stock, valued at $2,086,156.80. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Charter Trust Co. increased its stake in Seagate Technology PLC by 0.7% in the second quarter. Charter Trust Co. now owns 16,813 shares of the data storage provider’s stock worth $410,000 after buying an additional 110 shares during the last quarter. Capstone Asset Management Co. increased its stake in Seagate Technology PLC by 0.7% in the second quarter. Capstone Asset Management Co. now owns 15,845 shares of the data storage provider’s stock worth $386,000 after buying an additional 115 shares during the last quarter. Integrated Wealth Management increased its stake in Seagate Technology PLC by 0.4% in the second quarter. Integrated Wealth Management now owns 30,422 shares of the data storage provider’s stock worth $741,000 after buying an additional 133 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Seagate Technology PLC by 0.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,980 shares of the data storage provider’s stock worth $559,000 after buying an additional 158 shares during the last quarter. Finally, Northeast Financial Consultants Inc increased its stake in Seagate Technology PLC by 0.8% in the second quarter. Northeast Financial Consultants Inc now owns 21,112 shares of the data storage provider’s stock worth $514,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 83.86% of the company’s stock.

Seagate Technology PLC 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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