Seagate Technology (STX) Bonds Trading 1.5% Lower Analyst

An issue of Seagate Technology PLC (NASDAQ:STX) bonds fell 1.5% against their face value during trading on Monday after Loop Capital lowered their price target on the stock to $60.00. The high-yield issue of debt has a 4.75% coupon and is set to mature on January 1, 2025. The bonds in the issue are now trading at $91.50 and were trading at $94.82 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

Several other equities research analysts also recently weighed in on the company. Susquehanna Bancshares reaffirmed a “negative” rating and set a $32.00 price target (down from $53.00) on shares of Seagate Technology in a report on Tuesday, October 23rd. UBS Group downgraded Seagate Technology to a “neutral” rating in a report on Tuesday, October 23rd. Zacks Investment Research raised Seagate Technology from a “sell” rating to a “hold” rating in a report on Monday, October 8th. ValuEngine downgraded Seagate Technology from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, BidaskClub downgraded Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.43.

In other Seagate Technology news, EVP James J. Murphy sold 509 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $56.60, for a total value of $28,809.40. Following the completion of the sale, the executive vice president now owns 37,693 shares of the company’s stock, valued at $2,133,423.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen J. Luczo sold 35,000 shares of Seagate Technology stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $55.40, for a total value of $1,939,000.00. The disclosure for this sale can be found here. In the last three months, insiders acquired 5,707,648 shares of company stock valued at $295,778,805 and sold 46,086 shares valued at $2,529,660. 1.00% of the stock is currently owned by company insiders.



Several large investors have recently added to or reduced their stakes in the company. Reliance Trust Co. of Delaware raised its stake in shares of Seagate Technology by 5.0% during the 3rd quarter. Reliance Trust Co. of Delaware now owns 35,878 shares of the data storage provider’s stock worth $1,699,000 after buying an additional 1,704 shares during the last quarter. Greenleaf Trust raised its stake in shares of Seagate Technology by 196.3% during the 3rd quarter. Greenleaf Trust now owns 11,359 shares of the data storage provider’s stock worth $538,000 after buying an additional 7,526 shares during the last quarter. GWM Advisors LLC raised its stake in shares of Seagate Technology by 89.5% during the 3rd quarter. GWM Advisors LLC now owns 11,920 shares of the data storage provider’s stock worth $564,000 after buying an additional 5,630 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Seagate Technology during the 3rd quarter worth $7,607,000. Finally, Gilman Hill Asset Management LLC raised its stake in shares of Seagate Technology by 2.7% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 140,733 shares of the data storage provider’s stock worth $6,664,000 after buying an additional 3,679 shares during the last quarter. 83.24% of the stock is owned by institutional investors and hedge funds.

The company has a market capitalization of $11.17 billion, a PE ratio of 6.99, a price-to-earnings-growth ratio of 0.50 and a beta of 1.70. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 2.59.

About Seagate Technology (NASDAQ:STX)

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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