Seagate Technology PLC (NASDAQ:STX) had its price target raised by Jefferies Group LLC from $44.00 to $50.00 in a report issued on Wednesday. The brokerage currently has a “buy” rating on the data storage provider’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 13.90% from the stock’s previous close.
A number of other research analysts have also commented on the company. J P Morgan Chase & Co upgraded Seagate Technology PLC from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $20.00 to $38.00 in a report on Tuesday, October 11th. Benchmark Co. upgraded Seagate Technology PLC from a “hold” rating to a “buy” rating and upped their price target for the stock from $32.00 to $45.00 in a report on Tuesday, October 11th. RBC Capital Markets reiterated a “sector perform” rating and set a $40.00 price target on shares of Seagate Technology PLC in a report on Tuesday, January 3rd. BTIG Research reiterated a “buy” rating and set a $45.00 price target (up from $36.00) on shares of Seagate Technology PLC in a report on Thursday, October 6th. Finally, Royal Bank Of Canada upped their price target on Seagate Technology PLC from $34.00 to $40.00 and gave the stock a “sector perform” rating in a report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.90.
Shares of Seagate Technology PLC (NASDAQ:STX) traded up 0.59% during trading on Wednesday, hitting $44.16. 624,471 shares of the stock traded hands. Seagate Technology PLC has a 52 week low of $18.42 and a 52 week high of $46.68. The firm’s 50-day moving average price is $38.60 and its 200-day moving average price is $35.63. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 25.76 and a beta of 2.04.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, January 24th. The data storage provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.30. Seagate Technology PLC had a return on equity of 62.25% and a net margin of 4.69%. The company earned $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Seagate Technology PLC will post $3.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 22nd will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Monday, March 20th. Seagate Technology PLC’s dividend payout ratio is presently 147.37%.
A number of large investors have recently made changes to their positions in the stock. British Columbia Investment Management Corp raised its stake in shares of Seagate Technology PLC by 37.3% in the third quarter. British Columbia Investment Management Corp now owns 116,581 shares of the data storage provider’s stock worth $4,494,000 after buying an additional 31,673 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Seagate Technology PLC by 207.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 872,057 shares of the data storage provider’s stock worth $33,618,000 after buying an additional 588,533 shares in the last quarter. WINTON GROUP Ltd raised its stake in shares of Seagate Technology PLC by 16.9% in the third quarter. WINTON GROUP Ltd now owns 224,545 shares of the data storage provider’s stock worth $8,656,000 after buying an additional 32,509 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Seagate Technology PLC by 3.9% in the third quarter. BlackRock Fund Advisors now owns 8,956,880 shares of the data storage provider’s stock worth $345,288,000 after buying an additional 334,647 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Seagate Technology PLC during the third quarter worth about $3,114,000. 89.95% of the stock is currently owned by institutional investors and hedge funds.
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.