Seagate Technology (NASDAQ:STX) Price Target Cut to $115.00 by Analysts at Citigroup

Seagate Technology (NASDAQ:STX) had its price objective decreased by Citigroup from $125.00 to $115.00 in a research note published on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the data storage provider’s stock.

Other equities research analysts also recently issued research reports about the stock. 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. Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Wednesday, January 22nd. Mizuho decreased their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.00.

Seagate Technology Trading Down 2.1 %

Shares of Seagate Technology stock opened at $88.64 on Tuesday. The company’s fifty day simple moving average is $96.33 and its 200-day simple moving average is $98.99. The company has a market cap of $18.77 billion, a price-to-earnings ratio of 16.20 and a beta of 1.01. Seagate Technology has a 1 year low of $82.31 and a 1 year 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 $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.25%. Seagate Technology’s dividend payout ratio is 52.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STX. Berkshire Bank raised its holdings in Seagate Technology by 2.6% during the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock worth $355,000 after purchasing an additional 103 shares during the last quarter. MWA Asset Management raised its holdings in Seagate Technology by 0.5% during the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock worth $1,695,000 after purchasing an additional 104 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in Seagate Technology by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 112 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 113 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Seagate Technology by 2.3% during the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider’s stock worth $431,000 after purchasing an additional 113 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

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.