Robert W. Baird reiterated their neutral rating on shares of Seagate Technology PLC (NASDAQ:STX) in a research report sent to investors on Wednesday. Robert W. Baird currently has a $37.00 price objective on the data storage provider’s stock, up from their previous price objective of $32.00.

Several other brokerages also recently commented on STX. Jefferies Group increased their price objective on Seagate Technology PLC from $38.00 to $44.00 and gave the stock a buy rating in a research note on Tuesday. FBN Securities increased their price objective on Seagate Technology PLC from $33.00 to $38.00 and gave the stock a sector perform rating in a research note on Tuesday. Brean Capital reissued a buy rating and issued a $30.00 price objective on shares of Seagate Technology PLC in a research note on Thursday, June 30th. Seaport Global Securities increased their price objective on Seagate Technology PLC to $44.00 and gave the stock a neutral rating in a research note on Tuesday. Finally, Zacks Investment Research raised Seagate Technology PLC from a hold rating to a buy rating and set a $33.00 price objective for the company in a research note on Thursday, July 14th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and two have given 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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

Shares of Seagate Technology PLC (NASDAQ:STX) traded down 2.9336% during midday trading on Wednesday, reaching $34.1965. The company had a trading volume of 1,451,118 shares. The stock’s 50 day moving average is $36.04 and its 200-day moving average is $29.03. The stock has a market capitalization of $10.26 billion, a PE ratio of 41.7030 and a beta of 2.50. Seagate Technology PLC has a 12-month low of $18.42 and a 12-month high of $44.16.

Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 EPS for the quarter, beating the 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 in the prior year, the company earned $0.77 EPS. The firm’s revenue for the quarter 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 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Wednesday, September 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date of this dividend is Monday, September 19th. Seagate Technology PLC’s payout ratio is 307.32%.

In related news, CFO David H. Morton, Jr. sold 1,716 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total value of $62,050.56. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark Re sold 3,082 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $32.50, for a total transaction of $100,165.00. Following the completion of the sale, the senior vice president now directly owns 56,623 shares in the company, valued at $1,840,247.50. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the company. Charter Trust Co. raised its position in shares of 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 valued at $410,000 after buying an additional 110 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of 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 valued at $386,000 after buying an additional 115 shares during the last quarter. Integrated Wealth Management raised its position in shares of 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 valued at $741,000 after buying an additional 133 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of 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 valued at $559,000 after buying an additional 158 shares during the last quarter. Finally, Northeast Financial Consultants Inc raised its position in shares of 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 valued at $514,000 after buying an additional 171 shares during the last quarter. 83.86% of the stock is currently owned by institutional investors.

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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