Seagate Technology PLC (NASDAQ:STX) Given Consensus Rating of “Hold” by Analysts

Shares of Seagate Technology PLC (NASDAQ:STX) have earned an average recommendation of “Hold” from the twenty-three ratings firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $46.67.

A number of analysts recently issued reports on the company. Cleveland Research assumed coverage on Seagate Technology in a research report on Friday, June 7th. They issued a “hold” rating for the company. Zacks Investment Research upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. ValuEngine upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 price target on shares of Seagate Technology in a research report on Thursday, March 28th. Finally, Craig Hallum upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Wednesday, May 1st.

Shares of NASDAQ STX traded down $1.11 during midday trading on Tuesday, reaching $46.21. 3,277,500 shares of the stock traded hands, compared to its average volume of 3,318,154. The company has a quick ratio of 1.16, a current ratio of 1.62 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $12.97 billion, a PE ratio of 8.39, a PEG ratio of 8.03 and a beta of 1.65. Seagate Technology has a one year low of $35.38 and a one year high of $59.66. The stock has a 50 day moving average of $44.86.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 30th. The data storage provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.32 billion. Seagate Technology had a return on equity of 90.33% and a net margin of 13.73%. The company’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. On average, equities research analysts forecast that Seagate Technology will post 4.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 19th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $2.52 dividend on an annualized basis and a yield of 5.45%. Seagate Technology’s payout ratio is 45.74%.

In other Seagate Technology news, Director Stephen J. Luczo sold 99,999 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $49.33, for a total value of $4,932,950.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Moody National Bank Trust Division increased its stake in shares of Seagate Technology by 1.7% during the first quarter. Moody National Bank Trust Division now owns 13,938 shares of the data storage provider’s stock valued at $668,000 after buying an additional 238 shares during the period. Capital Investment Advisory Services LLC increased its stake in shares of Seagate Technology by 6.2% during the first quarter. Capital Investment Advisory Services LLC now owns 4,369 shares of the data storage provider’s stock valued at $209,000 after buying an additional 254 shares during the period. Front Row Advisors LLC increased its stake in shares of Seagate Technology by 91.0% during the first quarter. Front Row Advisors LLC now owns 573 shares of the data storage provider’s stock valued at $28,000 after buying an additional 273 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Seagate Technology by 4.6% during the third quarter. TIAA CREF Investment Management LLC now owns 6,800 shares of the data storage provider’s stock valued at $322,000 after buying an additional 298 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of Seagate Technology by 0.6% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 52,100 shares of the data storage provider’s stock valued at $2,011,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 85.39% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

Featured Article: What are gap-up stocks?

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.