Wells Fargo & Company began coverage on shares of Seagate Technology PLC (NASDAQ:STX) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $38.00 price objective on the data storage provider’s stock.

Other equities analysts have also issued research reports about the stock. Cowen and Company reiterated a hold rating and set a $36.00 price target on shares of Seagate Technology PLC in a report on Friday, October 13th. Citigroup Inc. dropped their target price on shares of Seagate Technology PLC from $46.00 to $42.00 and set a neutral rating on the stock in a report on Tuesday, July 18th. UBS AG restated a sell rating and issued a $28.00 target price (down previously from $34.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Jefferies Group LLC set a $29.00 price target on shares of Seagate Technology PLC and gave the company a hold rating in a research note on Sunday, October 15th. Finally, Mizuho reaffirmed a hold rating and issued a $36.00 price target on shares of Seagate Technology PLC in a research note on Monday, October 9th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $41.39.

Shares of Seagate Technology PLC (NASDAQ STX) traded up $0.30 on Tuesday, hitting $39.42. The stock had a trading volume of 3,154,656 shares, compared to its average volume of 5,200,074. Seagate Technology PLC has a fifty-two week low of $30.60 and a fifty-two week high of $50.96. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. The firm has a market cap of $11,320.00, a P/E ratio of 9.17, a P/E/G ratio of 0.50 and a beta of 1.68.

Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a net margin of 7.41% and a return on equity of 84.50%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. sell-side analysts anticipate that Seagate Technology PLC will post 3.98 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 6.39%. The ex-dividend date is Tuesday, December 19th. Seagate Technology PLC’s payout ratio is 95.45%.

In other news, insider Philip G. Brace sold 5,403 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $36.79, for a total transaction of $198,776.37. Following the transaction, the insider now owns 33,069 shares in the company, valued at approximately $1,216,608.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dambisa F. Moyo sold 8,715 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $39.01, for a total value of $339,972.15. Following the completion of the transaction, the director now owns 3,316 shares in the company, valued at approximately $129,357.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,527 shares of company stock valued at $856,859. Insiders own 0.87% of the company’s stock.

Several large investors have recently modified their holdings of STX. ValueAct Holdings L.P. increased its position in shares of Seagate Technology PLC by 55.3% during the 3rd quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock worth $711,782,000 after purchasing an additional 7,642,835 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Seagate Technology PLC by 7,384.8% during the second quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock worth $104,662,000 after buying an additional 2,664,861 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Seagate Technology PLC by 7.4% during the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after buying an additional 2,292,075 shares in the last quarter. Schroder Investment Management Group lifted its stake in Seagate Technology PLC by 181.1% during the second quarter. Schroder Investment Management Group now owns 1,772,547 shares of the data storage provider’s stock worth $68,970,000 after purchasing an additional 1,141,917 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Seagate Technology PLC by 39.4% during the third quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock worth $96,064,000 after purchasing an additional 817,861 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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