Seagate Technology (STX) Stock Rating Upgraded by Cross Research
Cross Research upgraded shares of Seagate Technology (NASDAQ:STX) from a sell rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.
A number of other equities research analysts have also issued reports on STX. Zacks Investment Research lowered shares of Seagate Technology from a hold rating to a strong sell rating in a report on Wednesday, September 20th. Craig Hallum upgraded shares of Seagate Technology from a hold rating to a buy rating and set a $50.00 target price on the stock in a report on Monday, October 2nd. ValuEngine upgraded shares of Seagate Technology from a hold rating to a buy rating in a report on Monday, October 2nd. Mizuho reiterated a hold rating and set a $36.00 target price on shares of Seagate Technology in a report on Monday, October 9th. Finally, Cowen reiterated a hold rating and set a $36.00 target price on shares of Seagate Technology in a report on Friday, October 13th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $43.39.
Seagate Technology (STX) traded up $0.63 during trading on Tuesday, reaching $52.14. 4,111,573 shares of the company’s stock were exchanged, compared to its average volume of 6,736,579. The firm has a market cap of $15,090.00, a price-to-earnings ratio of 19.75, a PEG ratio of 0.76 and a beta of 1.68. Seagate Technology has a 12 month low of $30.60 and a 12 month high of $52.42. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is 95.45%.
In related news, Chairman Stephen J. Luczo sold 100,000 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $48.99, for a total value of $4,899,000.00. Following the transaction, the chairman now directly owns 95,420 shares of the company’s stock, valued at approximately $4,674,625.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip G. Brace sold 5,000 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $48.40, for a total transaction of $242,000.00. Following the completion of the transaction, the insider now directly owns 16,069 shares in the company, valued at $777,739.60. The disclosure for this sale can be found here. Insiders sold a total of 199,744 shares of company stock worth $9,317,320 over the last ninety days. Insiders own 0.87% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. WFG Advisors LP grew its position in shares of Seagate Technology by 16,536.4% in the 2nd 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 last quarter. Balentine LLC boosted its stake in Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after purchasing an additional 1,619 shares during the period. New England Research & Management Inc. acquired a new stake in Seagate Technology during the 4th quarter worth $205,000. SpiderRock Advisors LLC boosted its stake in Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after purchasing an additional 5,347 shares during the period. Finally, Putnam FL Investment Management Co. acquired a new stake in Seagate Technology during the 3rd quarter worth $215,000. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
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Seagate Technology 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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