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

Seagate Technology Holdings plc (NASDAQ:STX) has been given a consensus rating of “Hold” by the nineteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $118.83.

Several equities analysts recently issued reports on STX shares. 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. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Citigroup upped their target price on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Seagate Technology Trading Up 0.3 %

STX stock opened at $98.51 on Friday. Seagate Technology has a twelve month low of $78.10 and a twelve month high of $115.32. The stock has a market cap of $20.84 billion, a P/E ratio of 25.72 and a beta of 1.03. The company’s 50 day moving average is $103.64 and its two-hundred day moving average is $102.08.

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

Seagate Technology Increases Dividend

The company also recently disclosed 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 2.92%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s payout ratio is presently 73.11%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at $1,096,590. This represents a 32.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,820 shares of company stock valued at $23,953,746 over the last quarter. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama boosted its stake in Seagate Technology by 7.3% during the 3rd quarter. Retirement Systems of Alabama now owns 46,213 shares of the data storage provider’s stock valued at $5,062,000 after purchasing an additional 3,135 shares during the period. Oddo BHF Asset Management Sas bought a new stake in shares of Seagate Technology in the third quarter valued at approximately $7,112,000. Franklin Resources Inc. grew its stake in shares of Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after acquiring an additional 405,232 shares during the last quarter. Synovus Financial Corp increased its position in Seagate Technology by 36.6% during the third quarter. Synovus Financial Corp now owns 4,054 shares of the data storage provider’s stock worth $444,000 after acquiring an additional 1,087 shares during the period. Finally, Tidal Investments LLC raised its stake in Seagate Technology by 21.3% during the 3rd quarter. Tidal Investments LLC now owns 5,441 shares of the data storage provider’s stock valued at $596,000 after purchasing an additional 956 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.