Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Rating of “Hold” by Brokerages

Seagate Technology Holdings plc (NASDAQ:STX) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $115.94.

Several equities analysts have recently issued reports on STX shares. Wedbush lifted their price objective on Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Robert W. Baird upped their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald boosted their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Loop Capital raised their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Northland Securities boosted their price target on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the transaction, the chief executive officer now directly owns 654,270 shares in the company, valued at $61,148,074.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Christopher Morris sold 5,928 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the sale, the senior vice president now owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The disclosure for this sale can be found here. Insiders sold 82,250 shares of company stock worth $8,006,146 over the last quarter. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Seagate Technology by 3.1% during the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after buying an additional 746,395 shares during the period. Capital Research Global Investors boosted its stake in shares of Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after purchasing an additional 4,685,454 shares during the period. Sanders Capital LLC grew its holdings in Seagate Technology by 3.0% during the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock valued at $1,322,053,000 after purchasing an additional 443,768 shares during the last quarter. Clearbridge Investments LLC raised its position in Seagate Technology by 14.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after purchasing an additional 337,464 shares during the period. Finally, Norges Bank bought a new stake in shares of Seagate Technology during the 4th quarter worth approximately $188,834,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

STX stock opened at $96.28 on Monday. The firm’s fifty day moving average is $101.72 and its 200 day moving average is $93.93. The firm has a market cap of $20.24 billion, a PE ratio of -74.64 and a beta of 1.02. Seagate Technology has a one year low of $62.43 and a one year high of $113.57.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) earnings per share. Research analysts predict that Seagate Technology will post 6.21 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.91%. Seagate Technology’s dividend payout ratio is presently -217.05%.

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.