Stock On Watch: Seagate Technology PLC Surges to 52-Week High, Is Now Top Performer

Stock On Watch: Seagate Technology PLC Surges to 52 Week High, Is Now Top Performer

The stock of Seagate Technology PLC (NASDAQ:STX) hit a new 52-week high and has $51.28 target or 29.00% above today’s $39.75 share price. The 9 months bullish chart indicates low risk for the $12.02B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $51.28 price target is reached, the company will be worth $3.49B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.11M shares traded hands. Seagate Technology PLC (NASDAQ:STX) has risen 55.11% since April 19, 2016 and is uptrending. It has outperformed by 51.25% the S&P500.

Seagate Technology PLC (NASDAQ:STX) Ratings Coverage

Out of 24 analysts covering Seagate Technology Plc (NASDAQ:STX), 7 rate it a “Buy”, 3 “Sell”, while 14 “Hold”. This means 29% are positive. Seagate Technology Plc has been the topic of 73 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Susquehanna downgraded Seagate Technology PLC (NASDAQ:STX) on Monday, October 19 to “Neutral” rating. Needham maintained it with “Strong Buy” rating and $47 target price in Thursday, October 20 report. The rating was maintained by Citigroup on Thursday, April 7 with “Sell”. UBS initiated it with “Sell” rating and $38 target price in Thursday, September 10 report. Needham maintained the shares of STX in a report on Monday, November 2 with “Buy” rating. On Friday, December 11 the stock rating was initiated by Mizuho with “Neutral”. As per Monday, September 19, the company rating was maintained by UBS. The stock of Seagate Technology PLC (NASDAQ:STX) earned “Market Perform” rating by BMO Capital Markets on Thursday, August 20. Maxim Group maintained it with “Hold” rating and $25 target price in Monday, May 2 report. The firm earned “Neutral” rating on Thursday, April 14 by Goldman Sachs.

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 increased to 1.13 in 2016 Q2. Its up 0.15, from 0.98 in 2016Q1. The ratio improved, 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.
The Minnesota-based Sawtooth Asset Management Inc has invested 0.35% in Seagate Technology PLC (NASDAQ:STX). Livforsakringsbolaget Skandia Omsesidigt accumulated 0.06% or 54,461 shares. Conning last reported 91,000 shares in the company. Peak6 Invests Limited Partnership owns 50,703 shares or 0.01% of their US portfolio. Oxford Asset Mngmt holds 0.21% or 209,450 shares in its portfolio. Blackrock Fund Advisors owns 8.62M shares or 0.05% of their US portfolio. Concannon Wealth Lc has 211 shares for 0.01% of their US portfolio. First Manhattan has 80 shares for 0% of their US portfolio. Murphy Cap Mgmt accumulated 10,325 shares or 0.04% of the stock. Los Angeles Management And Equity Research Inc has 283,524 shares for 0.06% of their US portfolio. State Of Wisconsin Inv Board last reported 0.02% of its portfolio in the stock. Franklin Resource Inc holds 16,241 shares or 0% of its portfolio. Atria Investments Limited Liability holds 0.07% of its portfolio in Seagate Technology PLC (NASDAQ:STX) for 27,572 shares. Moreover, Geode Cap Limited Liability Co has 0.03% invested in Seagate Technology PLC (NASDAQ:STX) for 2.47M shares. Afam Capital last reported 211,623 shares in the company.

Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 8 sales for $1.21 million net activity. MORTON DAVID H JR sold 1,716 shares worth $62,054. $118,700 worth of Seagate Technology PLC (NASDAQ:STX) was sold by MacPherson Regan J. RE MARK sold $194,787 worth of Seagate Technology PLC (NASDAQ:STX) on Wednesday, August 31. BIONDI FRANK sold $40,600 worth of Seagate Technology PLC (NASDAQ:STX) on Tuesday, August 9.

More notable 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 Fool.com with their article: “Is Seagate Technology PLC’s Dividend Safe?” published on October 31, 2016, Fool.com published: “Why Seagate Technology PLC Fell 11% in October” on November 08, 2016. More interesting news about Seagate Technology PLC (NASDAQ:STX) were released by: Fool.com and their article: “How Seagate Technology PLC Jumped 14% Higher in September” published on October 13, 2016 as well as Profitconfidential.com‘s news article titled: “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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