BidaskClub cut shares of Seagate Technology (NASDAQ:STX) from a hold rating to a sell rating in a research report released on Saturday, BidAskClub reports.

Several other equities research analysts have also recently commented on STX. Craig Hallum upgraded Seagate Technology from a hold rating to a buy rating and set a $64.00 target price on the stock in a research note on Thursday, April 23rd. Deutsche Bank upped their price objective on Seagate Technology from $50.00 to $52.00 and gave the stock a hold rating in a research note on Thursday, April 23rd. Susquehanna Bancshares reiterated a sell rating and set a $36.00 price objective on shares of Seagate Technology in a research note on Wednesday, April 22nd. ValuEngine cut Seagate Technology from a hold rating to a sell rating in a research note on Friday, May 1st. Finally, Morgan Stanley dropped their price objective on Seagate Technology from $60.00 to $56.00 and set an overweight rating on the stock in a research note on Wednesday, March 25th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Seagate Technology has a consensus rating of Hold and an average target price of $55.86.

NASDAQ STX opened at $47.76 on Friday. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 8.22 and a beta of 1.08. The stock’s 50 day moving average price is $50.91 and its two-hundred day moving average price is $52.74. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.08 and a current ratio of 1.49. Seagate Technology has a 52 week low of $39.02 and a 52 week high of $64.17.

Seagate Technology (NASDAQ:STX) last released its earnings results on Wednesday, April 22nd. The data storage provider reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.19. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Seagate Technology had a return on equity of 62.81% and a net margin of 17.57%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. On average, equities research analysts forecast that Seagate Technology will post 4.73 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 24th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Tuesday, June 23rd. Seagate Technology’s dividend payout ratio (DPR) is presently 53.94%.

In other Seagate Technology news, Director Stephen J. Luczo sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $49.52, for a total value of $247,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Ban Seng Teh sold 498 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $52.80, for a total value of $26,294.40. Following the completion of the transaction, the senior vice president now directly owns 11,197 shares in the company, valued at $591,201.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,494 shares of company stock worth $5,557,539. Insiders own 1.12% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Balentine LLC acquired a new stake in shares of Seagate Technology during the 1st quarter worth $25,000. Quadrant Capital Group LLC grew its holdings in shares of Seagate Technology by 346.3% during the 4th quarter. Quadrant Capital Group LLC now owns 540 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 419 shares in the last quarter. Paragon Capital Management LLC acquired a new stake in shares of Seagate Technology during the 1st quarter worth $28,000. First Horizon Advisors Inc. grew its holdings in shares of Seagate Technology by 145.6% during the 1st quarter. First Horizon Advisors Inc. now owns 587 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 348 shares in the last quarter. Finally, WASHINGTON TRUST Co acquired a new stake in shares of Seagate Technology during the 1st quarter worth $29,000. 83.64% 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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Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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