Morgan Stanley Upgrades Seagate Technology PLC to Equal-weight with Price Target $27.00

Brokerage firm Morgan Stanley Upgrades its rating on Seagate Technology PLC(NASDAQ:STX). In a research note issued to the investors, the brokerage major Raises the price-target to $27.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Underweight rating on the shares. The rating by Morgan Stanley was issued on Jul 12, 2016.

In a different note, On Jun 2, 2016, Jefferies said it Maintains its rating on Seagate Technology PLC. In the research note, the firm Raises the price-target to $25.00 per share. The shares have been rated ‘Buy’ by the firm. On May 2, 2016, Maxim Group said it Maintains its rating on Seagate Technology PLC. In the research note, the firm Lowers the price-target to $36.00 per share. The shares have been rated ‘Hold’ by the firm. On May 2, 2016, Needham said it Maintains its rating on Seagate Technology PLC. In the research note, the firm Lowers the price-target to $41.00 per share. The shares have been rated ‘Buy’ by the firm. On May 2, 2016, JP Morgan said it Downgrades its rating on Seagate Technology PLC. In the research note, the firm Lowers the price-target to $30.00 per share. The shares have been rated ‘Underweight’ by the firm. On May 2, 2016, Brean Capital said it Maintains its rating on Seagate Technology PLC. In the research note, the firm Lowers the price-target to $50.00 per share. The shares have been rated ‘Buy’ by the firm. On May 2, 2016, Citigroup said it Maintains its rating on Seagate Technology PLC. In the research note, the firm Lowers the price-target to $22.00 per share. The shares have been rated ‘Sell’ by the firm.

Seagate Technology PLC (STX) shares turned negative on Fridays trading session with the shares closing down -0.29 points or -0.99% at a volume of 64,44,387. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $29.43. The peak price level was also seen at $29.43 while the days lowest was $28.3. Finally the shares closed at $28.9. The 52-week high of the shares is $52.88 while the 52-week low is $18.4201. According to the latest information available, the market cap of the company is $8,626 M.

Seagate Technology PLC(STX) last announced its earnings results on Apr 29, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $2.60B. Analysts had an estimated revenue of $0.63. Earnings per share were $0.22. Analysts had estimated an EPS of $0.63.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, David H Jr Morton (Chief Financial Officer & EVP) sold 8,038 shares at $23.79 per share price.Also, On May 9, 2016, Frank Biondi (director) sold 12,919 shares at $18.98 per share price.On May 3, 2016, Stephen J Luczo (CEO) purchased 200,000 shares at $20.08 per share price, according to the Form-4 filing with the securities and exchange commission.

Seagate Technology plc (Seagate) is a provider of electronic data storage products. The Company’s products are hard disk drives (HDD). The Company produces a range of electronic data storage products including solid state hybrid drives (SSHD) solid state drives (SSD) peripheral component interconnect express (PCIe) cards and Serial AT Attachment (SATA) controllers. The Company’s products are designed for enterprise servers and storage systems for applications client compute applications and client non-compute applications. The Company’s product and solution portfolio for the enterprise data storage industry includes storage enclosures integrated application platforms and high performance computing (HPC) data storage solutions. Its data storage services provide online backup data protection and recovery solutions for small to medium-sized businesses. Its products include Enterprise Performance HDDs Mobile HDDs and SSHDs NAS HDDs and Surveillance HDDs among others.

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