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.

Seagate Technology (NASDAQ:STX) last released its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. analysts predict that Seagate Technology will post 4.32 EPS for the current year.

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.

TRADEMARK VIOLATION WARNING: “Seagate Technology (STX) Stock Rating Upgraded by Cross Research” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2018/01/17/seagate-technology-stx-stock-rating-upgraded-by-cross-research.html.

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.

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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