Seagate Technology PLC (NASDAQ:STX) a Buy: RBC Capital

In a research note issued to investors, Amit Daryanani at RBC Capital Reiterated their Buy rating on Seagate Technology PLC (NASDAQ:STX). The analyst placed a $62.00 price target on the stock which indicates a 14.03% upside to the last closing price. In the year following Amit’s ratings, the stocks covered yield an average return of 8.7% according to TipRanks.com. In the past year 61 out of 98 recommendations or 62% were successful.

Seagate Technology PLC (NASDAQ:STX) shares opened the most recent trading session at 55.45 and at the time of writing the last Bid was at N/A. In the current trading session the stock reached as high as 55.83 and dipped down to 53.95. Seagate Technology., a NMS listed company, has a current market cap of 17.77B and on average over the past 3 months has seen 3546130 shares trade hands on a daily basis.

On a technical level the stock has a 50 Day Moving Average of 58.56. Based on a recent trade, this puts the equity at -7.59% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -22.03% away from it’s 52-week high of 69.40 and +11.59% away from the stock’s low point over the past 52 weeks, which was 48.49. On a consensus basis, analysts have a one year target price of 63.43. The company last reported earnings per share of 6.03.

The consensus analyst estimates according to First Call for the next quarter is 1.12. The current year EPS estimate on the stock is 4.87 and the EPS estimate for next year sits at 5.34. In looking at the fundamentals, STX has a P/E ratio of 8.97 and a price to book ratio of 4.90. The company’s Book Value is 11.30 and most recently reported EBITDA of 2.62B. The price compared to next year’s EPS estimate in the current year is 10.13.

Company Profile

Seagate Technology PLC (STX) is the provider of electronic data storage products. The Company’s principal products are hard disk drives, commonly referred to as disk drives, hard drives or HDDs. The Company 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. In April 2014, Seagate completed the acquisition of Xyratex Ltd. In September 2014, Seagate Technology PLC completes acquisition of the assets of LSI’s Accelerated Solutions Division (ASD) and Flash Components Division (FCD) from Avago Technologies Limited.