Seagate Technology PLC (STX) Stock Rating Lowered by BidaskClub
Seagate Technology PLC (NASDAQ:STX) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.
STX has been the subject of a number of other research reports. Evercore ISI began coverage on Seagate Technology PLC in a report on Friday, June 16th. They set an “in-line” rating and a $48.00 price target for the company. Maxim Group reissued a “hold” rating and set a $38.00 price target (down previously from $46.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Craig Hallum cut Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Mizuho lowered their price target on Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Five investment analysts have rated the stock with a sell rating, twenty have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Seagate Technology PLC has an average rating of “Hold” and an average price target of $42.12.
Seagate Technology PLC (NASDAQ STX) opened at 31.01 on Tuesday. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96. The firm has a market capitalization of $9.05 billion, a PE ratio of 12.02 and a beta of 1.69. The stock’s 50 day moving average is $35.01 and its 200-day moving average is $42.30.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the firm posted $0.69 EPS. Seagate Technology PLC’s quarterly revenue was down 9.3% on a year-over-year basis. Equities analysts expect that Seagate Technology PLC will post $3.69 earnings per share for the current year.
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In related news, insider Philip G. Brace acquired 1,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the completion of the purchase, the insider now directly owns 62,855 shares in the company, valued at approximately $2,095,585.70. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David H. Morton, Jr. sold 3,040 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $43.26, for a total value of $131,510.40. Following the completion of the sale, the chief financial officer now directly owns 9,063 shares of the company’s stock, valued at $392,065.38. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of STX. WFG Advisors LP increased its stake in shares of Seagate Technology PLC by 16,536.4% in the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after buying an additional 3,638 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Seagate Technology PLC during the second quarter valued at approximately $150,000. First Quadrant L P CA bought a new stake in shares of Seagate Technology PLC during the second quarter valued at approximately $153,000. Global X Management Co. LLC increased its stake in shares of Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares during the period. Finally, Sigma Investment Counselors Inc. bought a new stake in shares of Seagate Technology PLC during the first quarter valued at approximately $201,000. 87.27% of the stock is owned by hedge funds and other 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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