Seagate Technology PLC (NASDAQ:STX) had its price objective hoisted by FBN Securities from $33.00 to $38.00 in a report released on Tuesday. The firm currently has a sector perform rating on the data storage provider’s stock.

Other research analysts have also issued reports about the company. Maxim Group upped their target price on Seagate Technology PLC from $25.00 to $35.00 and gave the company a hold rating in a research report on Tuesday, July 12th. Jefferies Group upped their target price on Seagate Technology PLC from $32.00 to $38.00 and gave the company a buy rating in a research report on Tuesday, September 6th. RBC Capital Markets reaffirmed a sector perform rating and set a $31.00 target price (up from $27.00) on shares of Seagate Technology PLC in a research report on Tuesday, August 2nd. Susquehanna reaffirmed a neutral rating and set a $32.00 target price (up from $30.00) on shares of Seagate Technology PLC in a research report on Friday, August 19th. Finally, Brean Capital reaffirmed a buy rating on shares of Seagate Technology PLC in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $38.06.

Seagate Technology PLC (NASDAQ:STX) traded up 1.68% during trading on Tuesday, reaching $35.69. The company’s stock had a trading volume of 1,562,754 shares. The firm’s 50-day moving average price is $35.95 and its 200 day moving average price is $28.99. Seagate Technology PLC has a 12-month low of $18.42 and a 12-month high of $49.26. The company has a market capitalization of $10.71 billion, a P/E ratio of 43.52 and a beta of 2.50.

Seagate Technology PLC (NASDAQ:STX) last issued its 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. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The business earned $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the business earned $0.77 EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts predict that Seagate Technology PLC will post $3.04 earnings per share 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 paid a $0.63 dividend. The ex-dividend date is Monday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.18%. Seagate Technology PLC’s payout ratio is presently 307.32%.

In related news, CFO David H. Morton, Jr. sold 1,716 shares of Seagate Technology PLC stock in a transaction 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 transaction, the chief financial officer now directly owns 20,782 shares in the company, valued at $751,477.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark Re sold 5,800 shares of Seagate Technology PLC stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $33.58, for a total value of $194,764.00. Following the completion of the transaction, the senior vice president now owns 46,970 shares of the company’s stock, valued at $1,577,252.60. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in Seagate Technology PLC by 20.7% in the first quarter. Aperio Group LLC now owns 77,513 shares of the data storage provider’s stock worth $2,670,000 after buying an additional 13,282 shares during the period. Nisa Investment Advisors L.L.C. raised its position in Seagate Technology PLC by 6.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 20,350 shares of the data storage provider’s stock worth $701,000 after buying an additional 1,300 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Seagate Technology PLC during the first quarter worth about $214,000. TIAA CREF Investment Management LLC raised its position in Seagate Technology PLC by 2.1% in the first quarter. TIAA CREF Investment Management LLC now owns 103,276 shares of the data storage provider’s stock worth $3,558,000 after buying an additional 2,145 shares during the period. Finally, Teachers Advisors Inc. raised its position in Seagate Technology PLC by 1.4% in the first quarter. Teachers Advisors Inc. now owns 49,446 shares of the data storage provider’s stock worth $1,703,000 after buying an additional 694 shares during the period. Hedge funds and other institutional investors own 83.86% of the company’s stock.

About Seagate Technology PLC

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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