A number of other analysts also recently weighed in on the stock. Mizuho cut their price target on shares of Seagate Technology from $56.00 to $50.00 and set a neutral rating on the stock in a research report on Wednesday, July 29th. Zacks Investment Research lowered shares of Seagate Technology from a hold rating to a sell rating and set a $53.00 target price on the stock. in a report on Friday, July 24th. Morgan Stanley decreased their price target on shares of Seagate Technology from $56.00 to $55.00 and set an overweight rating for the company in a report on Wednesday, July 29th. Summit Insights raised Seagate Technology from a sell rating to a hold rating in a research note on Wednesday, July 29th. Finally, Bank of America reduced their target price on Seagate Technology from $45.00 to $43.00 and set an underperform rating on the stock in a report on Wednesday, July 29th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $52.65.
STX opened at $48.82 on Thursday. The company has a fifty day moving average price of $46.01 and a two-hundred day moving average price of $48.24. The firm has a market capitalization of $12.52 billion, a PE ratio of 12.85, a P/E/G ratio of 8.80 and a beta of 1.03. Seagate Technology has a 52 week low of $39.02 and a 52 week high of $64.17. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.09 and a current ratio of 1.51.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 23rd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Tuesday, September 22nd. Seagate Technology’s dividend payout ratio is presently 56.89%.
In other news, Director Edward J. Zander sold 16,698 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $47.74, for a total transaction of $797,162.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of STX. Schonfeld Strategic Advisors LLC raised its position in Seagate Technology by 24.2% during the second quarter. Schonfeld Strategic Advisors LLC now owns 18,982 shares of the data storage provider’s stock worth $919,000 after acquiring an additional 3,693 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Seagate Technology by 4.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 340,009 shares of the data storage provider’s stock valued at $16,460,000 after acquiring an additional 13,395 shares during the period. Principal Financial Group Inc. increased its stake in shares of Seagate Technology by 1.1% during the 2nd quarter. Principal Financial Group Inc. now owns 326,776 shares of the data storage provider’s stock worth $15,819,000 after purchasing an additional 3,422 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Seagate Technology by 1,006.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 265,050 shares of the data storage provider’s stock valued at $12,831,000 after purchasing an additional 241,100 shares during the period. Finally, Bridgeway Capital Management Inc. acquired a new stake in Seagate Technology in the 2nd quarter valued at about $1,627,000. 83.24% of the stock is currently owned by hedge funds and other institutional investors.
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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