The stock of Seagate Technology PLC (NASDAQ:STX) hit a new 52-week high and has $43.15 target or 9.00% above today’s $39.59 share price. The 9 months bullish chart indicates low risk for the $11.75B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $43.15 price target is reached, the company will be worth $1.06B 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 2.57 million shares traded hands. Seagate Technology PLC (NASDAQ:STX) has risen 45.81% since April 26, 2016 and is uptrending. It has outperformed by 40.55% the S&P500.
Analysts await Seagate Technology PLC (NASDAQ:STX) to report earnings on February, 3. They expect $1.05 EPS, up 28.05% or $0.23 from last year’s $0.82 per share. STX’s profit will be $311.63 million for 9.43 P/E if the $1.05 EPS becomes a reality. After $0.99 actual EPS reported by Seagate Technology PLC for the previous quarter, Wall Street now forecasts 6.06% EPS growth.
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. The rating was maintained by RBC Capital Markets on Monday, August 3 with “Outperform”. Morgan Stanley downgraded Seagate Technology PLC (NASDAQ:STX) rating on Thursday, July 23. Morgan Stanley has “Underweight” rating and $34 price target. Maxim Group maintained the shares of STX in a report on Monday, May 2 with “Hold” rating. On Thursday, April 14 the stock rating was maintained by Citigroup with “Sell”. The firm has “Strong Buy” rating by S&P Research given on Thursday, October 8. The rating was upgraded by Craig Hallum on Thursday, November 19 to “Buy”. RBC Capital Markets downgraded Seagate Technology PLC (NASDAQ:STX) rating on Monday, May 2. RBC Capital Markets has “Sector Perform” rating and $24 price target. As per Friday, January 15, the company rating was maintained by RBC Capital Markets. Brean Capital maintained the shares of STX in a report on Thursday, April 14 with “Buy” rating. Needham maintained the shares of STX in a report on Thursday, October 20 with “Strong Buy” rating.
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 Q2 2016. Its up 0.15, from 0.98 in 2016Q1. The ratio is positive, 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.
Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.01% or 34,233 shares in its portfolio. Fmr Ltd Com accumulated 0.12% or 36.06M shares. The Georgia-based Cornerstone Invest Prns Ltd Liability Corporation has invested 0.03% in Seagate Technology PLC (NASDAQ:STX). Euclid Advsrs Lc, a Connecticut-based fund reported 1,430 shares. Atria Ltd owns 27,572 shares or 0.07% of their US portfolio. Gotham Asset Mngmt Lc holds 0.1% or 326,920 shares in its portfolio. Tcw Group has 0.09% invested in the company for 505,938 shares. Susquehanna Group Inc Limited Liability Partnership holds 17,388 shares or 0% of its portfolio. The Massachusetts-based Panagora Asset Management has invested 0.02% in Seagate Technology PLC (NASDAQ:STX). Wellington Mgmt Group Inc Llp accumulated 0.04% or 7.14 million shares. Acadian Asset Mgmt Ltd Company has invested 0% of its portfolio in Seagate Technology PLC (NASDAQ:STX). Janney Montgomery Scott Ltd Liability Corp, a Pennsylvania-based fund reported 20,211 shares. Nomura Asset Mgmt Limited owns 403,446 shares or 0.18% of their US portfolio. Dai Ichi Life accumulated 0.01% or 11,935 shares. Qs Ltd Liability Corporation, a New York-based fund reported 4,267 shares.
Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 9 insider sales for $1.64 million net activity. Shares for $100,174 were sold by RE MARK. The insider MORTON DAVID H JR sold $191,209. BIONDI FRANK sold $40,600 worth of stock or 1,251 shares. $118,700 worth of Seagate Technology PLC (NASDAQ:STX) shares were sold by MacPherson Regan J.
More important recent Seagate Technology PLC (NASDAQ:STX) news were published by: Fool.com which released: “Is Seagate Technology PLC’s Dividend Safe?” on October 31, 2016, also Fool.com published article titled: “Why Seagate Technology PLC Fell 11% in October”, Profitconfidential.com published: “Seagate Technology PLC: This Is Where STX Stock will Find Support” on November 02, 2016. More interesting news about Seagate Technology PLC (NASDAQ:STX) was released by: Forbes.com and their article: “Seagate Technology Reaches Analyst Target Price” with publication date: November 16, 2016.
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