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

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $122.56.

STX has been the topic of a number of research reports. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Susquehanna lifted their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research note on Wednesday, January 22nd. Citigroup upped their price objective on Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $120.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 642,497 shares of the company’s stock, valued at $63,947,726.41. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,073 shares of company stock valued at $5,106,149 in the last three months. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new stake in shares of Seagate Technology in the 3rd quarter valued at about $26,000. Quarry LP bought a new position in Seagate Technology in the second quarter worth approximately $27,000. Advisors Asset Management Inc. boosted its position in Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 258 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Seagate Technology during the 3rd quarter worth $53,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

STX stock opened at $108.19 on Monday. The business’s 50-day moving average is $95.00 and its two-hundred day moving average is $100.35. The company has a market cap of $22.89 billion, a price-to-earnings ratio of 19.78 and a beta of 1.06. Seagate Technology has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.66%. Seagate Technology’s dividend payout ratio (DPR) is currently 52.65%.

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.