Investment Analysts’ Weekly Ratings Updates for Seagate Technology (STX)

A number of firms have modified their ratings and price targets on shares of Seagate Technology (NASDAQ: STX) recently:

• 10/23/2024 – Seagate Technology had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $150.00 price target on the stock.
• 10/23/2024 – Seagate Technology had its price target raised by analysts at Northland Securities from $142.00 to $144.00. They now have an “outperform” rating on the stock.
• 10/23/2024 – Seagate Technology had its price target raised by analysts at Evercore ISI from $125.00 to $135.00. They now have an “outperform” rating on the stock.
• 10/23/2024 – Seagate Technology had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $125.00 price target on the stock.
• 10/23/2024 – Seagate Technology had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 10/23/2024 – Seagate Technology had its price target raised by analysts at Citigroup Inc. from $125.00 to $130.00. They now have a “buy” rating on the stock.
• 10/23/2024 – Seagate Technology had its price target raised by analysts at Rosenblatt Securities from $125.00 to $140.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Seagate Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/9/2024 – Seagate Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/30/2024 – Seagate Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Seagate Technology Stock Up 1.8 %

NASDAQ:STX opened at $101.65 on Wednesday. The firm has a market cap of $21.50 billion, a PE ratio of 26.54 and a beta of 1.05. Seagate Technology Holdings plc has a 12 month low of $70.31 and a 12 month high of $115.32. The company’s 50-day moving average price is $104.73 and its two-hundred day moving average price is $100.62.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned ($0.34) EPS. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. On average, research analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.83%. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the sale, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now directly owns 642,497 shares in the company, valued at approximately $63,947,726.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 192,638 shares of company stock valued at $20,924,155 over the last ninety days. 0.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STX. Sequoia Financial Advisors LLC raised its stake in shares of Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after buying an additional 89 shares during the last quarter. CWM LLC boosted its position in shares of Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after purchasing an additional 97 shares during the last quarter. Affinity Capital Advisors LLC grew its stake in shares of Seagate Technology by 1.5% during the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after purchasing an additional 100 shares during the period. Csenge Advisory Group grew its stake in shares of Seagate Technology by 1.4% during the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after purchasing an additional 119 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its stake in Seagate Technology by 3.7% in the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock valued at $357,000 after buying an additional 122 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.