Seagate Technology PLC (NASDAQ:STX) had its price objective increased by stock analysts at Maxim Group from $35.00 to $36.00 in a report issued on Wednesday. The brokerage currently has a “hold” rating on the data storage provider’s stock. Maxim Group’s price objective would suggest a potential upside of 2.56% from the stock’s current price.

Several other research firms also recently weighed in on STX. Jefferies Group boosted their target price on shares of Seagate Technology PLC from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. RBC Capital Markets reissued a “sector perform” rating and issued a $31.00 target price (up previously from $27.00) on shares of Seagate Technology PLC in a research report on Tuesday, August 2nd. Susquehanna reissued a “neutral” rating and issued a $32.00 target price (up previously from $30.00) on shares of Seagate Technology PLC in a research report on Friday, August 19th. Brean Capital reissued a “buy” rating on shares of Seagate Technology PLC in a research report on Wednesday, June 15th. Finally, Vetr raised shares of Seagate Technology PLC from a “strong sell” rating to a “sell” rating and set a $33.42 target price for the company in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $38.06.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

Seagate Technology PLC (NASDAQ:STX) opened at 35.10 on Wednesday. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 42.80 and a beta of 2.50. Seagate Technology PLC has a 12-month low of $18.42 and a 12-month high of $49.26. The company has a 50-day moving average price of $35.95 and a 200 day moving average price of $28.99.

Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, August 2nd. The data storage provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business posted $0.77 EPS. The firm’s revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts predict that Seagate Technology PLC will post $3.04 EPS for the current year.

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

In related news, CFO David H. Morton, Jr. sold 1,716 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $751,477.12. The transaction was disclosed in a legal filing with the SEC, which is available through 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 transaction of $405,960.00. Following the sale, the senior vice president now directly owns 65,520 shares of the company’s stock, valued at $2,086,156.80. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Hanlon Investment Management Inc. increased its stake in 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 valued at $7,861,000 after buying an additional 120,093 shares in the last quarter. BB&T Securities LLC increased its stake in 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 valued at $1,977,000 after buying an additional 2,374 shares in the last quarter. M&T Bank Corp increased its stake in 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 valued at $1,074,000 after buying an additional 1,604 shares in the last quarter. Sentry Investment Management LLC increased its stake in 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 valued at $644,000 after buying an additional 1,006 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its stake in 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 valued at $13,647,000 after buying an additional 6,109 shares in the last quarter. 83.86% of the stock is owned by institutional investors and hedge funds.

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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