Seagate Technology PLC (STX) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 34

Seagate Technology PLC (STX) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 34 from a previous price target of $31 . RBC Capital Mkts advised their investors in a research report released on Aug 31, 2016.

Many Wall Street Analysts have commented on Seagate Technology PLC. Company shares were Reiterated by Barclays on Aug 3, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 34 from a previous price target of $25 .Company shares were Reiterated by Mizuho on Aug 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 31 from a previous price target of $23 .Company shares were Reiterated by Cowen on Aug 2, 2016 to “Market Perform”, Firm has raised the Price Target to $ 32 from a previous price target of $26 .

On the company’s financial health, Seagate Technology PLC reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.61. The company had revenue of $2654.00 million for the quarter, compared to analysts expectations of $2652.78 million. The company’s revenue was down -9.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.77 EPS.

Seagate Technology PLC opened for trading at $33.42 and hit $33.97 on the upside on Monday, eventually ending the session at $33.73, with a gain of 1.20% or 0.4 points. The heightened volatility saw the trading volume jump to 39,72,347 shares. Company has a market cap of $10,072 M.

Investors should note that on Aug 2, 2016, Seagate Technology PLC announced a cash dividend of $0.6300. The company’s management has announced Sep 19, 2016 as the ex-dividend date and fixed the record date on Sep 21, 2016. The payable date has been fixed on Oct 5, 2016.

In a different news, on Aug 9, 2016, Mark Re (SVP & CTO) sold 3,082 shares at $32.50 per share price. According to the SEC, on Aug 9, 2016, Frank Biondi (director) sold 1,251 shares at $32.45 per share price. On Jun 7, 2016, David H Jr Morton (Chief Financial Officer & EVP) sold 8,038 shares at $23.79 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.

Seagate Technology PLC

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