Seagate Technology (STX) Receives Hold Rating from Mizuho

Mizuho reaffirmed their hold rating on shares of Seagate Technology (NASDAQ:STX) in a research note published on Monday morning. Mizuho currently has a $48.00 price objective on the data storage provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Summit Redstone raised shares of Seagate Technology to a hold rating in a research note on Friday, November 2nd. Robert W. Baird decreased their target price on Seagate Technology from $56.00 to $45.00 and set a neutral rating on the stock in a research report on Friday, November 2nd. Summit Insights upgraded Seagate Technology from a sell rating to a hold rating in a research report on Friday, November 2nd. Loop Capital decreased their target price on Seagate Technology to $60.00 and set a buy rating on the stock in a research report on Monday, October 29th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares reiterated a negative rating and set a $32.00 target price (down previously from $53.00) on shares of Seagate Technology in a research report on Tuesday, October 23rd. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company’s stock. Seagate Technology presently has an average rating of Hold and a consensus target price of $50.91.

Shares of NASDAQ STX opened at $45.80 on Monday. The company has a market cap of $12.75 billion, a PE ratio of 8.31, a PEG ratio of 0.58 and a beta of 1.71. Seagate Technology has a 12 month low of $36.69 and a 12 month high of $62.70. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.42.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Friday, November 2nd. The data storage provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Seagate Technology had a net margin of 12.57% and a return on equity of 123.05%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. As a group, analysts forecast that Seagate Technology will post 5.94 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 19th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, December 18th. This represents a $2.52 dividend on an annualized basis and a yield of 5.50%. Seagate Technology’s payout ratio is currently 45.74%.

In other news, insider Valueact Capital Master Fund, acquired 2,090,783 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were bought at an average price of $50.94 per share, for a total transaction of $106,504,486.02. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kathryn R. Scolnick sold 10,577 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $53.12, for a total value of $561,850.24. Following the completion of the transaction, the chief financial officer now owns 759 shares in the company, valued at approximately $40,318.08. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 4,055,357 shares of company stock worth $209,385,069 and sold 46,086 shares worth $2,529,660. Company insiders own 1.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC purchased a new position in shares of Seagate Technology during the 3rd quarter worth $108,000. Quad Cities Investment Group LLC purchased a new position in shares of Seagate Technology during the 2nd quarter worth $124,000. Partners Capital Investment Group LLP purchased a new position in shares of Seagate Technology during the 2nd quarter worth $136,000. First Hawaiian Bank purchased a new position in shares of Seagate Technology during the 3rd quarter worth $139,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Seagate Technology during the 2nd quarter worth $146,000. Institutional investors own 83.57% 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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