Seagate Technology (STX)

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Seagate Technology PLC Research Coverage Started at Maxim Group (STX)

Posted by Max Byerly on Apr 15th, 2015 // No Comments

Seagate Technology PLC logoEquities researchers at Maxim Group began coverage on shares of Seagate Technology PLC (NYSE:STX) in a research report issued on Wednesday. The firm set a “buy” rating and a $68.00 price target on the stock. Maxim Group’s target price would suggest a potential upside of 21.93% from the stock’s previous close.

STX has been the subject of a number of other recent research reports. Analysts at Bank of America upgraded shares of Seagate Technology PLC from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $55.41 to $60.00 in a research note on Tuesday. Analysts at Susquehanna lowered their price target on shares of Seagate Technology PLC from $37.00 to $35.00 and set a “positive” rating on the stock in a research note on Monday. Analysts at Brean Capital reiterated a “buy” rating on shares of Seagate Technology PLC in a research note on Monday. Finally, analysts at Stifel Nicolaus reiterated a “positive” rating on shares of Seagate Technology PLC in a research note on Tuesday, March 31st. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $63.89.

Shares of Seagate Technology PLC (NYSE:STX) opened at 55.77 on Wednesday. Seagate Technology PLC has a 1-year low of $48.49 and a 1-year high of $69.40. The stock’s 50-day moving average is $55. and its 200-day moving average is $60.. The company has a market cap of $18.31 billion and a P/E ratio of 9.25.

Seagate Technology PLC (NYSE:STX) last released its earnings data on Monday, January 26th. The company reported $1.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.34 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the company posted $1.32 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts expect that Seagate Technology PLC will post $4.80 EPS for the current fiscal year.

In other Seagate Technology PLC news, insider William D. Mosley sold 58,581 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $55.51, for a total transaction of $3,251,831.31. The sale was disclosed in a filing with the SEC, which is available at this link.

Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products. The Company’s principal products are hard disk drives, commonly referred to as disk drives, hard drives or HDDs. The Company produces a range of disk drive products addressing enterprise applications, where its products are designed for enterprise servers, mainframes and workstations; client compute applications, where its products are designed for desktop and notebook computers, and client non-compute applications, where its products are designed for a range of end user devices, such as digital video recorders (DVRs), personal data backup systems, portable external storage systems and digital media systems.
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