Brokerage firm Deutsche Bank Downgrades its rating on Seagate Technology PLC(NASDAQ:STX). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Deutsche Bank was issued on Apr 13, 2016.
In a different note, On Mar 23, 2016, UBS said it Maintains its rating on Seagate Technology PLC. In the research note, the firm Lowers the price-target to $26.00 per share. The shares have been rated ‘Sell’ by the firm. On Feb 1, 2016, Benchmark said it Upgrades its rating on Seagate Technology PLC. In the research note, the firm Lowers the price-target to $35.00 per share. The shares have been rated ‘Hold’ by the firm. Citigroup said it Initiates Coverage on Seagate Technology PLC, according to a research note issued on Jan 27, 2016. The shares have been rated ‘Sell’ by the firm. On Jan 25, 2016, Jefferies said it Maintains its rating on Seagate Technology PLC. According to the research note, Jefferies Lowers the price target to $35 per share from a prior target of $46. The shares have been rated ‘Buy’ by the firm.
Seagate Technology PLC (STX) shares turned negative on Fridays trading session with the shares closing down -1.52 points or -5.61% at a volume of 1,94,15,584. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.124. The peak price level was also seen at $27.124 while the days lowest was $25.54. Finally the shares closed at $25.59. The 52-week high of the shares is $60.09 while the 52-week low is $25.54. According to the latest information available, the market cap of the company is $7,585 M.
Seagate Technology PLC(STX) last announced its earnings results on Jan 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.99B. Analysts had an estimated revenue of $2.95B. Earnings per share were $0.82. Analysts had estimated an EPS of $0.72.
Several Insider Transactions has been reported to the SEC. On Feb 18, 2016, Edward J Zander (director) sold 28,200 shares at $31.83 per share price.Also, On Feb 2, 2016, Stephen J Luczo (CEO) purchased 200,000 shares at $29.40 per share price.On Feb 2, 2016, Philip G Brace (President, CSES) purchased 5,000 shares at $29.10 per share price, according to the Form-4 filing with the securities and exchange commission.
Seagate Technology plc (Seagate) is a provider of electronic data storage products. The Company’s products are hard disk drives (HDD). The Company produces a range of electronic data storage products including solid state hybrid drives (SSHD) solid state drives (SSD) peripheral component interconnect express (PCIe) cards and Serial AT Attachment (SATA) controllers. The Company’s products are designed for enterprise servers and storage systems for applications client compute applications and client non-compute applications. The Company’s product and solution portfolio for the enterprise data storage industry includes storage enclosures integrated application platforms and high performance computing (HPC) data storage solutions. Its data storage services provide online backup data protection and recovery solutions for small to medium-sized businesses. Its products include Enterprise Performance HDDs Mobile HDDs and SSHDs NAS HDDs and Surveillance HDDs among others.