Seagate Technology Holdings plc (NASDAQ:STX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Seagate Technology Holdings plc (NASDAQ:STX) has earned an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $114.89.

STX has been the subject of several analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. Barclays increased their target price on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Susquehanna lifted their price target on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research note on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Finally, Mizuho decreased their target price on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now directly owns 555,677 shares in the company, valued at $46,988,047.12. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently bought and sold shares of STX. World Investment Advisors LLC acquired a new stake in shares of Seagate Technology during the third quarter worth $217,000. Wilmington Savings Fund Society FSB acquired a new stake in Seagate Technology in the 3rd quarter worth about $54,000. Tidal Investments LLC grew its holdings in Seagate Technology by 21.3% in the 3rd quarter. Tidal Investments LLC now owns 5,441 shares of the data storage provider’s stock valued at $596,000 after buying an additional 956 shares during the period. Synovus Financial Corp increased its stake in shares of Seagate Technology by 36.6% during the 3rd quarter. Synovus Financial Corp now owns 4,054 shares of the data storage provider’s stock valued at $444,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Seagate Technology by 7.3% in the third quarter. Retirement Systems of Alabama now owns 46,213 shares of the data storage provider’s stock worth $5,062,000 after acquiring an additional 3,135 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Up 3.5%

Shares of STX stock opened at $105.47 on Wednesday. The company has a market capitalization of $22.38 billion, a P/E ratio of 19.28 and a beta of 1.32. The business’s 50 day moving average is $83.01 and its two-hundred day moving average is $92.19. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. Seagate Technology’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. As a group, equities analysts predict that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.73%. Seagate Technology’s dividend payout ratio is currently 41.62%.

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.