Seagate Technology PLC (NASDAQ:STX) had its price objective raised by Seaport Global Securities to $44.00 in a research report report published on Tuesday morning. The firm currently has a neutral rating on the data storage provider’s stock.

A number of other research analysts have also issued reports on the company. Cowen and Company lifted their target price on Seagate Technology PLC from $32.00 to $36.00 and gave the company a market perform rating in a report on Tuesday. FBN Securities lifted 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. Benchmark Co. upgraded Seagate Technology PLC from a hold rating to a buy rating and lifted their target price for the company from $32.00 to $45.00 in a report on Tuesday. Needham & Company LLC upgraded Seagate Technology PLC from a buy rating to a strong-buy rating and lifted their target price for the company from $39.00 to $43.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. upgraded Seagate Technology PLC from an underweight rating to a neutral rating and lifted their target price for the company from $20.00 to $38.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $38.06.

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

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 research analysts predict that Seagate Technology PLC will post $3.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Wednesday, September 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend is Monday, September 19th. Seagate Technology PLC’s payout ratio is currently 307.32%.

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

Several hedge funds and other institutional investors have recently modified their holdings of STX. Cowen Prime Services LLC acquired a new position in shares of Seagate Technology PLC during the second quarter worth $105,000. Glenmede Trust Co. NA raised its position in shares of Seagate Technology PLC by 30.2% in the second quarter. Glenmede Trust Co. NA now owns 4,650 shares of the data storage provider’s stock worth $113,000 after buying an additional 1,079 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Seagate Technology PLC by 30.2% in the second quarter. Advisory Services Network LLC now owns 5,603 shares of the data storage provider’s stock worth $136,000 after buying an additional 1,300 shares in the last quarter. Tredje AP fonden acquired a new position in shares of Seagate Technology PLC during the second quarter worth $146,000. Finally, RidgeWorth Capital Management LLC raised its position in shares of Seagate Technology PLC by 14.5% in the second quarter. RidgeWorth Capital Management LLC now owns 6,545 shares of the data storage provider’s stock worth $157,000 after buying an additional 827 shares in the last quarter. 83.86% of the stock is currently owned by institutional investors.

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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