Citigroup Inc. reissued their neutral rating on shares of Seagate Technology PLC (NASDAQ:STX) in a research note published on Thursday.

Several other brokerages have also commented on STX. Royal Bank Of Canada increased their price target on shares of Seagate Technology PLC from $34.00 to $40.00 and gave the stock a sector perform rating in a research note on Monday, October 3rd. RBC Capital Markets restated a sector perform rating and set a $40.00 price target (up previously from $34.00) on shares of Seagate Technology PLC in a research note on Monday, October 3rd. BTIG Research restated a buy rating and set a $45.00 price target (up previously from $36.00) on shares of Seagate Technology PLC in a research note on Thursday, October 6th. Vetr downgraded shares of Seagate Technology PLC from a buy rating to a hold rating and set a $38.84 price objective for the company. in a report on Tuesday, September 27th. Finally, Zacks Investment Research raised shares of Seagate Technology PLC from a hold rating to a buy rating and set a $43.00 price objective for the company in a report on Wednesday, October 5th. One 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 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 up 0.63% during midday trading on Thursday, reaching $35.40. 2,603,091 shares of the company were exchanged. Seagate Technology PLC has a 52-week low of $18.42 and a 52-week high of $41.83. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 43.17 and a beta of 2.50. The company’s 50-day moving average price is $36.14 and its 200 day moving average price is $29.07.

Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 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 business posted $0.77 EPS. Seagate Technology PLC’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts predict that Seagate Technology PLC will post $3.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders 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 7.16%. The ex-dividend date is Monday, September 19th. Seagate Technology PLC’s payout ratio is currently 307.32%.

In other news, Director Frank Biondi sold 1,251 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $32.45, for a total value of $40,594.95. Following the sale, the director now directly owns 6,433 shares in the company, valued at $208,750.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Re sold 3,082 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 9th. The shares were 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 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 company insiders.

Several hedge funds have recently bought and sold shares of STX. Rafferty Asset Management LLC increased its stake in Seagate Technology PLC by 26.7% in the first quarter. Rafferty Asset Management LLC now owns 35,189 shares of the data storage provider’s stock worth $1,212,000 after buying an additional 7,407 shares during the period. 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 worth $7,861,000 after buying an additional 120,093 shares during the period. 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 worth $1,977,000 after buying an additional 2,374 shares during the period. 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 worth $1,074,000 after buying an additional 1,604 shares during the period. Finally, 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 worth $644,000 after buying an additional 1,006 shares during the period. Institutional investors 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.

5 Day Chart for NASDAQ:STX

Receive News & Stock Ratings for Seagate Technology PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology PLC and related stocks with our FREE daily email newsletter.