Seagate Technology Holdings plc (NASDAQ:STX) Receives Consensus Rating of “Hold” from Analysts

Seagate Technology Holdings plc (NASDAQ:STX) has earned an average rating of “Hold” from the nineteen analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $118.83.

Several research firms recently weighed in on STX. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Barclays lifted their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen lifted their price target on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now owns 9,969 shares in the company, valued at $1,096,590. This trade represents a 32.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the sale, the chief executive officer now owns 668,616 shares of the company’s stock, valued at $73,668,110.88. This trade represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,820 shares of company stock valued at $21,892,856 over the last quarter. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in Seagate Technology in the 3rd quarter worth $26,000. Quarry LP acquired a new stake in Seagate Technology during the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 337 shares during the period. Family Firm Inc. acquired a new position in Seagate Technology in the 2nd quarter valued at approximately $41,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after acquiring an additional 258 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $97.80 on Wednesday. The firm has a fifty day moving average of $104.94 and a 200-day moving average of $101.52. The company has a market cap of $20.69 billion, a price-to-earnings ratio of 25.54 and a beta of 1.05. Seagate Technology has a 1 year low of $75.52 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.34) earnings per share. Analysts predict that Seagate Technology will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.94%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 73.11%.

About Seagate Technology

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.