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

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have received an average rating of “Hold” from the twenty analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $115.94.

A number of analysts have recently issued reports on STX shares. Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Mizuho lifted their price target on shares of Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Morgan Stanley increased their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Susquehanna lifted their target price on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research report on Wednesday, July 24th. Finally, Northland Securities upped their target price on Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated 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 owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John Christopher Morris sold 5,928 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total transaction of $592,740.72. Following the sale, the senior vice president now owns 12,185 shares in the company, valued at $1,218,378.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,297 shares of company stock worth $7,156,436. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in Seagate Technology during the 4th quarter worth approximately $15,341,000. CWM LLC lifted its stake in shares of Seagate Technology by 3.9% in the 4th quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after acquiring an additional 130 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Seagate Technology during the 4th quarter valued at $58,000. Mather Group LLC. grew its position in Seagate Technology by 7.8% during the 4th quarter. Mather Group LLC. now owns 6,446 shares of the data storage provider’s stock worth $550,000 after acquiring an additional 468 shares during the last quarter. Finally, Choreo LLC acquired a new position in Seagate Technology in the 4th quarter worth about $528,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Trading Up 0.1 %

STX opened at $100.81 on Friday. The stock has a market capitalization of $21.19 billion, a P/E ratio of -78.15 and a beta of 1.04. Seagate Technology has a 12 month low of $62.43 and a 12 month high of $113.57. The firm’s fifty day simple moving average is $101.64 and its 200 day simple moving average is $95.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) earnings per share. On average, equities research analysts predict that Seagate Technology will post 6.72 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.78%. Seagate Technology’s payout ratio is presently -217.05%.

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.