ValuEngine upgraded shares of Seagate Technology (NASDAQ:STX) from a sell rating to a hold rating in a report issued on Monday, February 4th.
STX has been the subject of a number of other research reports. Zacks Investment Research reaffirmed a hold rating on shares of Seagate Technology in a research note on Friday, November 16th. Maxim Group lowered their price objective on Seagate Technology from $54.00 to $51.00 and set a hold rating for the company in a research report on Wednesday, November 7th. Longbow Research reissued a hold rating on shares of Seagate Technology in a research report on Monday, November 12th. Benchmark restated a hold rating on shares of Seagate Technology in a report on Monday, November 5th. Finally, BidaskClub downgraded Seagate Technology from a buy rating to a hold rating in a report on Tuesday, December 18th. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $46.35.
Shares of NASDAQ:STX opened at $46.35 on Monday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.60 and a quick ratio of 1.12. The firm has a market capitalization of $13.24 billion, a P/E ratio of 8.41, a P/E/G ratio of 5.05 and a beta of 1.61. Seagate Technology has a 12-month low of $35.38 and a 12-month high of $62.70.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Monday, February 4th. The data storage provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.14. Seagate Technology had a net margin of 14.77% and a return on equity of 105.74%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities research analysts predict that Seagate Technology will post 4.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $2.52 dividend on an annualized basis and a yield of 5.44%. Seagate Technology’s dividend payout ratio is presently 45.74%.
In related news, Director Holdings L.P. Valueact purchased 750,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, February 6th. The shares were bought at an average price of $45.68 per share, with a total value of $34,260,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Valueact Capital Master Fund, bought 400,000 shares of the business’s stock in a transaction on Friday, December 7th. The shares were acquired at an average cost of $40.61 per share, for a total transaction of $16,244,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 4,228,869 shares of company stock valued at $188,021,263 and have sold 120,832 shares valued at $5,541,064. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Seagate Technology by 2.6% in the 4th quarter. FMR LLC now owns 23,656,503 shares of the data storage provider’s stock worth $912,904,000 after purchasing an additional 600,068 shares in the last quarter. CWM Advisors LLC boosted its stake in Seagate Technology by 19.3% in the 4th quarter. CWM Advisors LLC now owns 13,164 shares of the data storage provider’s stock worth $508,000 after purchasing an additional 2,133 shares in the last quarter. Nordea Investment Management AB boosted its stake in Seagate Technology by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 191,414 shares of the data storage provider’s stock worth $7,386,000 after purchasing an additional 9,929 shares in the last quarter. APG Asset Management N.V. boosted its stake in Seagate Technology by 14.2% in the 4th quarter. APG Asset Management N.V. now owns 3,292,119 shares of the data storage provider’s stock worth $111,134,000 after purchasing an additional 409,800 shares in the last quarter. Finally, Cypress Capital Group acquired a new stake in Seagate Technology in the 4th quarter worth approximately $340,000. Institutional investors and hedge funds own 93.00% 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.
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