Seagate Technology Holdings plc (NASDAQ:STX) Given Average Recommendation of “Hold” by Analysts

Seagate Technology Holdings plc (NASDAQ:STX) has been given an average rating of “Hold” by the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $118.83.

STX has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Loop Capital lifted their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities boosted their price target on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI raised their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd.

Seagate Technology Stock Down 2.0 %

STX opened at $99.80 on Wednesday. Seagate Technology has a 12-month low of $71.67 and a 12-month high of $115.32. The business has a 50 day moving average of $105.16 and a 200-day moving average of $101.20. The stock has a market cap of $21.11 billion, a price-to-earnings ratio of 26.06 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm earned ($0.34) earnings per share. The company’s revenue was up 49.1% on a year-over-year basis. As a group, analysts expect that Seagate Technology will post 7.35 earnings per share 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 issued a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s payout ratio is presently 73.11%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, 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 approximately $291,567.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ban Seng Teh sold 4,872 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at $1,096,590. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock valued at $21,892,856 in the last quarter. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

Several institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Seagate Technology by 68.7% in the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock valued at $1,634,000 after acquiring an additional 7,150 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after purchasing an additional 6,044 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Seagate Technology by 21.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock valued at $21,677,000 after purchasing an additional 40,649 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Seagate Technology during the 2nd quarter worth $499,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Seagate Technology by 6.9% in the 1st quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock worth $1,266,000 after buying an additional 881 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.