Brean Murray Carret & Co. Reiterates Buy on Seagate (STX)

By admin | 6 years ago

Seagate (NYSE: STX)‘s stock had its “buy” rating reiterated by investment analysts at Brean Murray Carret & Co. in a note issued to investors on Wednesday.

Seagate opened at 30.57 on Wednesday. Seagate has a 1-year low of $9.05 and a 1-year high of $32.55. The company has a market cap of $12.999 billion and a price-to-earnings ratio of 6.91.

Seagate last released its earnings data on Tuesday, April 17th. The company reported $2.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.10 by $0.54. The company’s quarterly revenue was up 65.1% on a year-over-year basis. Analysts expect that Seagate will post $2.81 EPS next quarter.

STX has been the subject of a number of other recent research reports. Analysts at Noble Financial downgraded shares of Seagate from a “buy” rating to a “sell” rating in a research note to investors on Tuesday. Separately, analysts at Bank of America (NYSE: BAC) downgraded shares of Seagate from a “buy” rating to a “neutral” rating in a research note to investors on Friday, April 27th. They now have a $32.00 price target on the stock, up previously from $31.00. Finally, analysts at Craig Hallum downgraded shares of Seagate from a “buy” rating to a “hold” rating in a research note to investors on Friday, April 27th. They now have a $37.00 price target on the stock.

Seagate Technology plc (Seagate) designs, manufactures, markets and sells hard disk drives. Seagate produces a range of disk drive products addressing enterprise applications, where its products are designed for enterprise servers, mainframes and workstations; client compute applications, where its products are designed for desktop and notebook computers, 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 and digital media systems.

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