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

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have earned a consensus rating of “Hold” from the twenty brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $115.94.

Several equities research analysts have issued reports on STX shares. UBS Group boosted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price objective on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Evercore ISI upped their target price on Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Wedbush increased their target price on Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Cantor Fitzgerald boosted their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th.

Seagate Technology Stock Up 1.8 %

Shares of NASDAQ STX opened at $105.88 on Tuesday. The stock has a market capitalization of $22.23 billion, a PE ratio of -82.08 and a beta of 1.03. The firm has a fifty day moving average of $101.09 and a 200-day moving average of $96.63. Seagate Technology has a 52-week low of $63.32 and a 52-week high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm posted ($0.29) earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. Equities research analysts expect that Seagate Technology will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insider Activity

In related news, EVP Ban Seng Teh sold 10,117 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at $592,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Seagate Technology news, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the sale, the chief financial officer now directly owns 52,620 shares of the company’s stock, valued at $4,974,694.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ban Seng Teh sold 10,117 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now owns 5,387 shares in the company, valued at $592,570. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,627 shares of company stock worth $5,489,495. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Seagate Technology during the second quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 337 shares during the period. Family Firm Inc. bought a new position in shares of Seagate Technology in the second quarter worth $41,000. ICA Group Wealth Management LLC acquired a new position in shares of Seagate Technology during the fourth quarter valued at $47,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Seagate Technology during the fourth quarter valued at about $47,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.