Seagate Technology (NASDAQ:STX) Upgraded at StockNews.com

StockNews.com upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a buy rating in a research note released on Monday.

Other equities analysts also recently issued research reports about the company. Evercore ISI upped their target price on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. Bank of America lifted their target price on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Mizuho lowered their price objective on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Stock Down 0.9 %

Shares of NASDAQ STX opened at $99.38 on Monday. The company has a market cap of $21.02 billion, a price-to-earnings ratio of 18.17 and a beta of 1.06. The firm’s fifty day moving average is $95.20 and its 200 day moving average is $100.27. Seagate Technology has a 52 week low of $82.31 and a 52 week high of $115.32.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is currently 52.65%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 642,497 shares in the company, valued at approximately $63,947,726.41. The trade was a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,073 shares of company stock valued at $5,106,149. 0.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Seagate Technology by 133.8% during the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after acquiring an additional 98,418 shares during the period. Versor Investments LP purchased a new position in Seagate Technology during the third quarter valued at $2,146,000. Forte Capital LLC ADV grew its holdings in Seagate Technology by 29.8% during the third quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock valued at $3,173,000 after purchasing an additional 6,653 shares during the period. International Assets Investment Management LLC increased its position in Seagate Technology by 3,549.7% in the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock worth $22,398,000 after buying an additional 198,890 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after buying an additional 1,012,638 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.