ValuEngine upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a buy rating in a research note released on Friday.
STX has been the topic of a number of other reports. Vetr cut shares of Seagate Technology from a buy rating to a hold rating and set a $41.79 target price on the stock. in a research report on Thursday, November 23rd. BMO Capital Markets reissued a hold rating and set a $40.00 target price on shares of Seagate Technology in a research report on Monday, October 23rd. Guggenheim reissued a hold rating on shares of Seagate Technology in a research report on Monday, October 23rd. BidaskClub raised shares of Seagate Technology from a buy rating to a strong-buy rating in a research report on Wednesday, October 25th. Finally, Argus reissued a hold rating and set a $40.00 target price on shares of Seagate Technology in a research report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $41.53.
Shares of Seagate Technology (NASDAQ STX) traded up $0.09 during mid-day trading on Friday, reaching $39.20. 4,592,500 shares of the company’s stock were exchanged, compared to its average volume of 5,163,835. The firm has a market capitalization of $11,315.25, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.52 and a beta of 1.67. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. Seagate Technology has a 1 year low of $30.60 and a 1 year high of $50.96.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.52 annualized dividend and a yield of 6.43%. Seagate Technology’s payout ratio is 95.09%.
In other news, Director Edward J. Zander sold 15,089 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $38.79, for a total transaction of $585,302.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David H. Morton, Jr. sold 7,909 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $316,360.00. Following the transaction, the chief financial officer now owns 25,561 shares of the company’s stock, valued at approximately $1,022,440. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,981 shares of company stock valued at $1,656,761. 0.87% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in STX. WFG Advisors LP lifted its holdings in Seagate Technology by 16,536.4% in the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 3,638 shares during the period. Balentine LLC lifted its holdings in Seagate Technology by 56.8% in the third 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. Pacer Advisors Inc. acquired a new stake in Seagate Technology in the second quarter worth about $150,000. SpiderRock Advisors LLC lifted its holdings in Seagate Technology by 2,419.5% in the third 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 in the third quarter worth about $215,000. Institutional investors and hedge funds own 91.76% of the company’s stock.
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About Seagate Technology
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.
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