The stock of Seagate Technology PLC (NASDAQ:STX) is a huge mover today! About 10.19M shares traded hands or 123.46% up from the average. Seagate Technology PLC (NASDAQ:STX) has risen 10.89% since March 8, 2016 and is uptrending. It has outperformed by 1.58% the S&P500.
The move comes after 6 months negative chart setup for the $10.59B company. It was reported on Oct, 11 by Barchart.com. We have $32.76 PT which if reached, will make NASDAQ:STX worth $741.30M less.
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 $225.45M for 11.74 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 65 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Barclays Capital maintained Seagate Technology PLC (NASDAQ:STX) rating on Tuesday, August 16. Barclays Capital has “Equal-Weight” rating and $36 price target. The company was maintained on Thursday, September 29 by Barclays Capital. The rating was downgraded by JP Morgan to “Underweight” on Monday, May 2. Citigroup maintained the stock with “Sell” rating in Thursday, April 14 report. The firm has “Buy” rating given on Monday, January 11 by Deutsche Bank. The firm earned “Hold” rating on Friday, October 16 by Craig Hallum. Brean Capital maintained the stock with “Buy” rating in Monday, May 2 report. As per Monday, January 18, the company rating was maintained by RBC Capital Markets. On Monday, November 2 the stock rating was downgraded by Maxim Group to “Hold”. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, October 8 report.
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 Q2 2016. Its down 0.02, from 1 in 2016Q1. The ratio turned negative, 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.
Cohen Klingenstein Ltd last reported 14,630 shares in the company. Moreover, Herndon Mgmt Limited Liability has 0% invested in Seagate Technology PLC (NASDAQ:STX) for 27 shares. Strs Ohio has invested 0% of its portfolio in Seagate Technology PLC (NASDAQ:STX). The California-based Schwab Charles Inv Mngmt has invested 0.03% in Seagate Technology PLC (NASDAQ:STX). Nuveen Asset Mngmt Ltd Liability reported 18,129 shares or 0% of all its holdings. Finemark Comml Bank & has 73 shares for 0% of their US portfolio. Commonwealth Of Pennsylvania School Empls Retrmt Sys last reported 23,899 shares in the company. Rafferty Asset Mgmt Ltd holds 0.32% of its portfolio in Seagate Technology PLC (NASDAQ:STX) for 196,590 shares. Jacobs Levy Equity Mgmt holds 0.05% of its portfolio in Seagate Technology PLC (NASDAQ:STX) for 90,980 shares. First Republic Mgmt holds 47,837 shares or 0.01% of its portfolio. Tourbillon Prns Lp has invested 0.17% of its portfolio in Seagate Technology PLC (NASDAQ:STX). Rodgers Brothers has invested 0.71% of its portfolio in Seagate Technology PLC (NASDAQ:STX). Conning accumulated 91,000 shares or 0.09% of the stock. The Ohio-based Huntington Bank & Trust has invested 0.01% in Seagate Technology PLC (NASDAQ:STX). Vanguard Group Incorporated has invested 0.04% of its portfolio in Seagate Technology PLC (NASDAQ:STX).
Insider Transactions: Since May 3, 2016, the stock had 1 insider buy, and 8 selling transactions for $2.68 million net activity. BIONDI FRANK had sold 12,919 shares worth $245,143. $100,174 worth of shares were sold by RE MARK on Tuesday, August 9. LUCZO STEPHEN J had bought 200,000 shares worth $4.02M. On Wednesday, September 14 the insider MORTON DAVID H JR sold $62,054.
More news for Seagate Technology PLC (NASDAQ:STX) were recently published by: Investorplace.com, which released: “3 Stocks to Watch Tuesday: Illumina, Inc. (ILMN), Seagate Technology PLC (STX …” on October 11, 2016. Forbes.com‘s article titled: “Why Seagate Technology is the ‘Top Dividend Stock of the Nasdaq 100’ With 7.0 …” and published on September 20, 2016 is yet another important article.
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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