Seagate Technology (NASDAQ:STX) Price Target Raised to $50.00 at Mizuho

Seagate Technology (NASDAQ:STX) had its price objective upped by Mizuho from $46.00 to $50.00 in a research report released on Friday morning, The Fly reports. Mizuho currently has a neutral rating on the data storage provider’s stock.

STX has been the subject of a number of other research reports. KeyCorp set a $58.00 price target on shares of Seagate Technology and gave the stock a hold rating in a research note on Tuesday, September 10th. Benchmark reiterated a buy rating and issued a $55.00 price target (down previously from $57.00) on shares of Seagate Technology in a research note on Monday, August 5th. FBN Securities lifted their price target on shares of Seagate Technology from $55.00 to $60.00 in a research note on Thursday, September 19th. Craig Hallum downgraded shares of Seagate Technology from a buy rating to a hold rating and set a $56.00 price target for the company. in a research note on Friday. Finally, Barclays lifted their price target on shares of Seagate Technology from $37.00 to $40.00 and gave the stock an underweight rating in a research note on Friday. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $48.10.

NASDAQ STX opened at $52.75 on Friday. Seagate Technology has a one year low of $35.38 and a one year high of $57.20. The firm has a 50 day simple moving average of $49.60 and a 200-day simple moving average of $47.48. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.52 and a current ratio of 1.95. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 10.17 and a beta of 1.65.



Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Friday, August 2nd. The data storage provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. Equities analysts predict that Seagate Technology will post 4.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.52 annualized dividend and a dividend yield of 4.78%. Seagate Technology’s dividend payout ratio is presently 52.28%.

In other news, CEO William D. Mosley sold 90,000 shares of Seagate Technology stock in a transaction on Friday, September 6th. The shares were sold at an average price of $54.31, for a total value of $4,887,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen J. Luczo sold 5,000 shares of Seagate Technology stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $47.21, for a total transaction of $236,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 120,000 shares of company stock valued at $6,344,500 in the last 90 days. Insiders own 1.12% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Covington Capital Management acquired a new position in Seagate Technology in the 2nd quarter valued at $26,000. Front Row Advisors LLC increased its stake in Seagate Technology by 91.0% in the 1st quarter. Front Row Advisors LLC now owns 573 shares of the data storage provider’s stock valued at $28,000 after buying an additional 273 shares during the period. CWM LLC increased its stake in Seagate Technology by 61.3% in the 2nd quarter. CWM LLC now owns 789 shares of the data storage provider’s stock valued at $37,000 after buying an additional 300 shares during the period. HM Payson & Co. acquired a new position in Seagate Technology in the 2nd quarter valued at $38,000. Finally, Quantamental Technologies LLC acquired a new position in Seagate Technology in the 2nd quarter valued at $39,000. 85.15% of the stock is currently owned by institutional investors.

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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