Seagate Technology's (STX) Buy Rating Reiterated at Craig Hallum

Alicia Farmer
January 13, 2018

Seagate Technology plc (NASDAQ:STX) has risen 107.16% since January 12, 2017 and is uptrending. The stock of Seagate Technology plc (NASDAQ:STX) earned "Sector Perform" rating by RBC Capital Markets on Monday, May 2. Brean Capital maintained the shares of STX in report on Wednesday, October 12 with "Buy" rating. 40,263 shares were sold by MORTON DAVID H JR, worth $1.96M on Monday, January 8. The stock has an average rating of "Hold" and a consensus target price of $43.15. Finally, Jefferies Group LLC reiterated a "buy" rating and issued a $44.00 target price (up from $38.00) on shares of Seagate Technology PLC in a report on Tuesday, October 11th. Guggenheim reissued a hold rating on shares of Seagate Technology in a report on Monday, October 23rd. S&P Research maintained Seagate Technology plc (NASDAQ:STX) on Thursday, October 8 with "Strong Buy" rating.

The Stock now has Analyst' mean Recommendation of 3.1 where the scale is from 1 to 5, 1 means Strong Buy and 5 means Sell. (NYSE:SMFG) hit a new 52-week high and has $10.17 target or 7.00% above today's $9.50 share price. The stock holds an average trading capacity of 5.01M shares for the past three months. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. Market worth or Market capitalization is calculated by multiplying the price of a stock by its total number of outstanding shares. Mason Street Advsr Ltd Liability Co invested 0.03% in Seagate Technology plc (NASDAQ:STX). This showed a surprise of 11.6% in the last quarter earnings. Accern also gave press coverage about the data storage provider an impact score of 46.3068775771985 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company's share price in the near future. Revenue, on the other hand, scored 4.89% growth from the previous quarter, coming up with $2.52 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. During the same quarter in the previous year, the company earned $0.99 EPS.

Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, January 24th. Investors of record on Wednesday, December 20th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Tuesday, December 19th.

While taking a look at financials, we can look at a number of key indicators about Seagate Technology plc (STX) . TheStreet upgraded shares of Seagate Technology from a "c+" rating to a "b-" rating in a research note on Tuesday. This ratio is calculated by dividing the current share price by the book value per share.

The company now has an insider ownership of 0.2 Percent and Institutional ownership of 95.3 Percent. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. $339,965 worth of Seagate Technology plc (NASDAQ:STX) was sold by Moyo Dambisa F. $4.90M worth of Seagate Technology plc (NASDAQ:STX) was sold by LUCZO STEPHEN J on Monday, January 8. The company has volume of 6.21 Million shares. The disclosure for this sale can be found here. The same analysts are predicting that the company shares will trade to $40.18 within the next 12-18 months.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. bought a new stake in Seagate Technology during the second quarter valued at approximately $150,000. State of Tennessee Treasury Department now owns 81,232 shares of the data storage provider's stock valued at $3,148,000 after purchasing an additional 668 shares during the period.

Seagate Technology plc (NASDAQ:STX) closed its last session at $49.01. The stock is a Buy among 2 brokerage firms polled by Factset Research.

Relative strength index (RSI-14) for Seagate Technology plc (STX) is at 80.34. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.86 by $0.10. It turned negative, as 73 investors sold Seagate Technology plc shares while 163 reduced holdings. 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 last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Seagate Technology by 74.4% in the second quarter. Principal Financial Group Inc. now owns 433,923 shares of the data storage provider's stock valued at $16,815,000 after purchasing an additional 16,388 shares during the period.

ILLEGAL ACTIVITY WARNING: "Royal Bank of Canada Boosts Seagate Technology (STX) Price Target to $48.00" was originally reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and global trademark and copyright legislation. The Company also provides data storage services for businesses, including online backup, data protection and recovery solutions. The Company's products include HEATSAVR, a chemical product for use in swimming pools and spas that forms a thin and transparent layer on the waterÂ's surface; ECOSAVR, a disposable dispenser designed for the residential pool and spa market; and WATERSAVR to reduce water evaporation in reservoirs, potable water storage tanks, livestock watering ponds, aqueducts, canals, and irrigation ditches, as well as for lawn and turf care, and potted and bedding plants. 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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