Seagate Technology (NASDAQ:STX) had its price objective lifted by Citigroup from $56.00 to $60.00 in a research report report published on Friday, March 9th. Citigroup currently has a neutral rating on the data storage provider’s stock.
Several other equities analysts have also weighed in on STX. UBS set a $43.00 price objective on Seagate Technology and gave the company a sell rating in a research note on Tuesday, March 6th. BMO Capital Markets boosted their price target on Seagate Technology to $53.00 and gave the stock a market perform rating in a research report on Tuesday, January 30th. Robert W. Baird upped their target price on Seagate Technology from $40.00 to $48.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. Vetr lowered Seagate Technology from a buy rating to a hold rating and set a $56.12 target price on the stock. in a research report on Thursday, March 1st. Finally, Maxim Group reiterated a hold rating and issued a $44.00 price target (up from $43.00) on shares of Seagate Technology in a report on Tuesday, January 9th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Seagate Technology presently has an average rating of Hold and a consensus target price of $50.60.
Shares of STX stock opened at $60.09 on Friday. Seagate Technology has a fifty-two week low of $30.60 and a fifty-two week high of $61.19. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07. The firm has a market capitalization of $17,115.25, a price-to-earnings ratio of 27.31, a P/E/G ratio of 0.79 and a beta of 1.84.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.52 annualized dividend and a dividend yield of 4.19%. Seagate Technology’s dividend payout ratio (DPR) is currently 114.55%.
In other Seagate Technology news, CFO David H. Morton, Jr. sold 35,142 shares of Seagate Technology stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $55.00, for a total transaction of $1,932,810.00. Following the transaction, the chief financial officer now directly owns 8,540 shares in the company, valued at $469,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Chong Sup Park sold 4,026 shares of Seagate Technology stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.22, for a total value of $218,289.72. Following the transaction, the director now owns 8,715 shares in the company, valued at $472,527.30. The disclosure for this sale can be found here. Insiders sold a total of 810,048 shares of company stock worth $43,459,301 over the last 90 days. 0.87% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in STX. Avestar Capital LLC acquired a new position in Seagate Technology during the fourth quarter worth approximately $100,000. Balentine LLC grew its position in shares of Seagate Technology by 56.8% in the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after purchasing an additional 1,619 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $174,000. Brave Asset Management Inc. acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $203,000. Finally, New England Research & Management Inc. acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $205,000. 88.84% of the stock is currently owned by hedge funds and other institutional investors.
About Seagate Technology
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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