Seagate Technology PLC’s (STX) “Hold” Rating Reaffirmed at Mizuho

Seagate Technology PLC (NASDAQ:STX)‘s stock had its “hold” rating reiterated by analysts at Mizuho in a research note issued on Monday. They currently have a $36.00 price objective on the data storage provider’s stock. Mizuho’s price objective would indicate a potential upside of 6.54% from the stock’s current price.

Several other equities analysts have also recently issued reports on STX. Evercore ISI began coverage on Seagate Technology PLC in a research note on Friday, June 16th. They set an “in-line” rating and a $48.00 target price on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $35.00 target price on shares of Seagate Technology PLC in a research note on Friday, September 1st. Maxim Group reissued a “hold” rating and set a $38.00 target price (down from $46.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. BidaskClub cut Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 12th. Finally, Craig Hallum raised Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Seagate Technology PLC currently has an average rating of “Hold” and a consensus target price of $40.72.

Shares of Seagate Technology PLC (NASDAQ STX) opened at 33.79 on Monday. The firm’s 50-day moving average is $32.51 and its 200-day moving average is $39.06. The firm has a market cap of $9.73 billion, a P/E ratio of 13.10 and a beta of 1.72. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.34). The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. Seagate Technology PLC’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. Analysts anticipate that Seagate Technology PLC will post $3.65 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Seagate Technology PLC’s (STX) “Hold” Rating Reaffirmed at Mizuho” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/09/seagate-technology-plcs-stx-hold-rating-reaffirmed-at-mizuho.html.

In other news, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Seagate Technology PLC by 7.4% during the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after acquiring an additional 2,292,075 shares during the last quarter. BlackRock Inc. increased its position in Seagate Technology PLC by 1.4% during the second quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock valued at $720,459,000 after acquiring an additional 256,005 shares during the last quarter. ValueAct Holdings L.P. increased its position in Seagate Technology PLC by 44.8% during the second quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after acquiring an additional 4,276,275 shares during the last quarter. State Street Corp increased its position in Seagate Technology PLC by 3.4% during the first quarter. State Street Corp now owns 11,253,471 shares of the data storage provider’s stock valued at $516,900,000 after acquiring an additional 374,218 shares during the last quarter. Finally, LSV Asset Management increased its position in Seagate Technology

Several other equities analysts have also recently issued reports on STX. Evercore ISI began coverage on Seagate Technology PLC in a research note on Friday, June 16th. They set an “in-line” rating and a $48.00 target price on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $35.00 target price on shares of Seagate Technology PLC in a research note on Friday, September 1st. Maxim Group reissued a “hold” rating and set a $38.00 target price (down from $46.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. BidaskClub cut Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 12th. Finally, Craig Hallum raised Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Seagate Technology PLC currently has an average rating of “Hold” and a consensus target price of $40.72.

Shares of Seagate Technology PLC (NASDAQ STX) opened at 33.79 on Monday. The firm’s 50-day moving average is $32.51 and its 200-day moving average is $39.06. The firm has a market cap of $9.73 billion, a P/E ratio of 13.10 and a beta of 1.72. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.34). The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. Seagate Technology PLC’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. Analysts anticipate that Seagate Technology PLC will post $3.65 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Seagate Technology PLC’s (STX) “Hold” Rating Reaffirmed at Mizuho” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/09/seagate-technology-plcs-stx-hold-rating-reaffirmed-at-mizuho.html.

In other news, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Seagate Technology PLC by 7.4% during the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after acquiring an additional 2,292,075 shares during the last quarter. BlackRock Inc. increased its position in Seagate Technology PLC by 1.4% during the second quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock valued at $720,459,000 after acquiring an additional 256,005 shares during the last quarter. ValueAct Holdings L.P. increased its position in Seagate Technology PLC by 44.8% during the second quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after acquiring an additional 4,276,275 shares during the last quarter. State Street Corp increased its position in Seagate Technology PLC by 3.4% during the first quarter. State Street Corp now owns 11,253,471 shares of the data storage provider’s stock valued at $516,900,000 after acquiring an additional 374,218 shares during the last quarter. Finally, LSV Asset Management increased its position in Seagate Technology PLC by 1.7% during the second quarter. LSV Asset Management now owns 6,521,232 shares of the data storage provider’s stock valued at $252,697,000 after acquiring an additional 106,811 shares during the last quarter. Institutional investors own 90.00% of the company’s stock.

About Seagate Technology PLC

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). 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.

Analyst Recommendations for Seagate Technology PLC (NASDAQ:STX)

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