Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $121.56.

A number of analysts have commented on the stock. Citigroup lifted their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Wednesday, January 22nd. Susquehanna raised their target price on Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Barclays upped their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd.

Seagate Technology Stock Performance

NASDAQ:STX opened at $90.51 on Tuesday. The stock’s fifty day moving average price is $96.35 and its two-hundred day moving average price is $99.06. The company has a market cap of $19.16 billion, a price-to-earnings ratio of 16.55 and a beta of 1.01. Seagate Technology has a 52-week low of $82.31 and a 52-week high of $115.32.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 3.18%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds have recently added to or reduced their stakes in STX. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Seagate Technology by 14.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,511 shares of the data storage provider’s stock worth $1,252,000 after acquiring an additional 1,832 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Seagate Technology during the 4th quarter worth approximately $6,090,000. Siemens Fonds Invest GmbH boosted its stake in Seagate Technology by 116.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,392 shares of the data storage provider’s stock valued at $379,000 after purchasing an additional 2,367 shares during the period. Menard Financial Group LLC acquired a new position in Seagate Technology in the 4th quarter valued at $50,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Seagate Technology by 0.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider’s stock valued at $1,327,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds 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.