Goldman Sachs Group set a $37.00 target price on Seagate Technology (NASDAQ:STX) in a research note released on Sunday, TipRanks reports. The firm currently has a sell rating on the data storage provider’s stock.
Several other research firms have also recently commented on STX. ValuEngine cut TheStreet from a buy rating to a hold rating in a report on Thursday, May 2nd. BidaskClub cut YRC Worldwide from a buy rating to a hold rating in a report on Tuesday, April 30th. Craig Hallum raised their price target on 1-800-Flowers.Com from $26.00 to $20.00 and gave the company a buy rating in a report on Wednesday, May 1st. Argus raised their price target on First Solar to $66.00 and gave the company an average rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada raised their price target on Valener from C$22.00 to C$26.00 and gave the company a sector perform rating in a report on Thursday, March 28th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $45.94.
NASDAQ:STX traded up $0.36 during mid-day trading on Friday, reaching $47.73. 1,102,296 shares of the stock were exchanged, compared to its average volume of 3,167,906. Seagate Technology has a 1 year low of $35.38 and a 1 year high of $57.68. The company has a 50 day moving average of $46.10. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.62 and a quick ratio of 1.16. The firm has a market capitalization of $13.21 billion, a PE ratio of 8.66, a P/E/G ratio of 8.32 and a beta of 1.68.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 30th. The data storage provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. Seagate Technology had a return on equity of 90.33% and a net margin of 13.73%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis. Sell-side analysts expect that Seagate Technology will post 4.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 19th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Tuesday, June 18th. Seagate Technology’s dividend payout ratio is currently 45.74%.
In related news, Director Stephen J. Luczo sold 5,000 shares of Seagate Technology stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $47.45, for a total value of $237,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Luczo sold 10,000 shares of Seagate Technology stock in a transaction on Monday, June 24th. The shares were sold at an average price of $47.00, for a total value of $470,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,999 shares of company stock valued at $5,876,251. Company insiders own 1.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings 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 buying an additional 600,068 shares in the last quarter. BlackRock Inc. lifted its position in shares of Seagate Technology by 1.1% during the 1st quarter. BlackRock Inc. now owns 19,734,970 shares of the data storage provider’s stock valued at $945,106,000 after acquiring an additional 221,030 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Seagate Technology by 14.2% during the 4th quarter. APG Asset Management N.V. now owns 3,292,119 shares of the data storage provider’s stock valued at $111,134,000 after acquiring an additional 409,800 shares during the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology during the 4th quarter valued at $110,985,000. Finally, Deutsche Bank AG lifted its position in shares of Seagate Technology by 28.9% during the 4th quarter. Deutsche Bank AG now owns 1,957,420 shares of the data storage provider’s stock valued at $75,531,000 after acquiring an additional 439,327 shares during the last quarter. Hedge funds and other institutional investors own 85.35% of the company’s stock.
About Seagate Technology
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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