Seagate Technology (NASDAQ:STX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Seagate Technology (NASDAQ:STX) from a buy rating to a hold rating in a research note published on Friday.

Other research analysts have also issued reports about the stock. Northland Securities restated an “outperform” rating and set a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Bank of America upped their price target 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. Morgan Stanley decreased their price target on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, UBS Group upped their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Price Performance

Seagate Technology stock opened at $101.91 on Friday. The firm has a market capitalization of $21.58 billion, a PE ratio of 18.63 and a beta of 1.07. The company’s 50-day moving average is $95.65 and its 200-day moving average is $99.96. Seagate Technology has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the completion of the transaction, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,891 shares of company stock valued at $2,146,848. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Berkshire Bank lifted its stake in Seagate Technology by 2.6% in the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock valued at $355,000 after purchasing an additional 103 shares during the last quarter. MWA Asset Management lifted its stake in Seagate Technology by 0.5% in the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock valued at $1,695,000 after purchasing an additional 104 shares during the last quarter. Johnson Financial Group Inc. lifted its stake in Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock valued at $52,000 after purchasing an additional 112 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Seagate Technology by 2.3% in the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider’s stock valued at $431,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.