The stock of Seagate Technology PLC (NASDAQ:STX) is a huge mover today! About 2.38 million shares traded hands. Seagate Technology PLC (NASDAQ:STX) has risen 15.59% since March 1, 2016 and is uptrending. It has outperformed by 6.35% the S&P500.
The move comes after 7 months positive chart setup for the $11.42 billion company. It was reported on Oct, 4 by Barchart.com. We have $51.60 PT which if reached, will make NASDAQ:STX worth $4.00 billion more.
Analysts await Seagate Technology PLC (NASDAQ:STX) to report earnings on November, 4. They expect $0.75 EPS, up 38.89% or $0.21 from last year’s $0.54 per share. STX’s profit will be $224.10 million for 12.74 P/E if the $0.75 EPS becomes a reality. After $0.69 actual EPS reported by Seagate Technology PLC for the previous quarter, Wall Street now forecasts 8.70% EPS growth.
Seagate Technology PLC (NASDAQ:STX) Ratings Coverage
Out of 23 analysts covering Seagate Technology Plc (NASDAQ:STX), 6 rate it a “Buy”, 5 “Sell”, while 12 “Hold”. This means 26% are positive. Seagate Technology Plc has been the topic of 64 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Brean Capital with “Buy” on Monday, May 2. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, January 18. The firm has “Equalweight” rating given on Wednesday, October 14 by Barclays Capital. Needham maintained Seagate Technology PLC (NASDAQ:STX) rating on Monday, November 2. Needham has “Buy” rating and $47 price target. The stock has “Buy” rating given by Needham on Friday, October 16. The company was initiated on Friday, December 11 by BMO Capital Markets. The stock of Seagate Technology PLC (NASDAQ:STX) earned “Buy” rating by Deutsche Bank on Wednesday, October 21. As per Thursday, April 14, the company rating was maintained by Citigroup. The firm has “Equal-Weight” rating by Barclays Capital given on Tuesday, August 16. As per Thursday, April 7, the company rating was maintained by Citigroup.
According to Zacks Investment Research, “Seagate Technology PLC offers a portfolio of hard disc drives, solid state drives and solid state hybrid drives. It offers a range of disk drive products for the enterprise, client compute and client non-compute market applications. The Company also provides data storage services for businesses, including online backup, data protection and recovery solutions. Seagate Technology PLC is headquartered in Dublin, Ireland.”
Insitutional Activity: The institutional sentiment decreased to 0.98 in 2016 Q2. Its down 0.02, from 1 in 2016Q1. The ratio dropped, as 96 funds sold all Seagate Technology PLC shares owned while 117 reduced positions. 53 funds bought stakes while 155 increased positions. They now own 247.41 million shares or 0.72% less from 249.21 million shares in 2016Q1.
Exxonmobil Inv Management Tx last reported 0.04% of its portfolio in the stock. D E Shaw And owns 261,599 shares or 0.01% of their US portfolio. Iridian Asset Management Ltd Ct owns 55,000 shares or 0.01% of their US portfolio. Hbk Invests Ltd Partnership owns 8,982 shares or 0% of their US portfolio. Clearbridge Limited Co, a New York-based fund reported 32.96M shares. Next Fincl Grp last reported 0.01% of its portfolio in the stock. Synovus Financial owns 1,684 shares or 0% of their US portfolio. Suntrust Banks has 29,965 shares for 0% of their US portfolio. Sei Invests Co reported 13,542 shares or 0% of all its holdings. Nomura Asset Mngmt accumulated 403,446 shares or 0.18% of the stock. Gotham Asset Mgmt Ltd has invested 0.1% of its portfolio in Seagate Technology PLC (NASDAQ:STX). Stifel Financial last reported 211,995 shares in the company. Wellington Mngmt Grp Inc Llp last reported 7.14M shares in the company. The Massachusetts-based Ngam Ltd Partnership has invested 0.09% in Seagate Technology PLC (NASDAQ:STX). Alps Advisors accumulated 0.25% or 1.14M shares.
Insider Transactions: Since May 3, 2016, the stock had 1 buy, and 8 selling transactions for $2.68 million net activity. MORTON DAVID H JR sold 8,038 shares worth $191,209. The insider RE MARK sold 12,750 shares worth $406,006. LUCZO STEPHEN J bought 200,000 shares worth $4.02 million. On Friday, May 6 the insider BIONDI FRANK sold $245,143.
More important recent Seagate Technology PLC (NASDAQ:STX) news were published by: Forbes.com which released: “Why Seagate Technology is the ‘Top Dividend Stock of the Nasdaq 100’ With 7.0 …” on May 14, 2013, also Businesswire.com published article titled: “Seagate Showcases Latest Enterprise SSD and HDD Portfolios at Open Data Center …”, Forbes.com published: “Ex-Div Reminder for Seagate Technology (STX)” on September 15, 2016. More interesting news about Seagate Technology PLC (NASDAQ:STX) was released by: Profitconfidential.com and their article: “Seagate Technology PLC: The Bullish Trend in STX Stock Has Only Begun” with publication date: September 10, 2016.
STX Company Profile
Seagate Technology public limited company, incorporated on January 22, 2010, is a well-known provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, the Company produces a range of electronic data storage products, including solid state hybrid drives (SSHDs), solid state drives (SSDs), peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers. The Company’s storage technology portfolio also includes storage subsystems and high performance computing (HPC) solutions. The Company’s products are designed for applications in enterprise servers and storage systems; client compute applications, where its products are designed primarily for desktop and mobile computing, 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, digital media systems and surveillance systems.
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