Investment Analysts’ Recent Ratings Changes for Seagate Technology (STX)

Several analysts have recently updated their ratings and price targets for Seagate Technology (NASDAQ: STX):

• 7/26/2024 – Seagate Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Morgan Stanley from $115.00 to $133.00. They now have an “overweight” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Robert W. Baird from $100.00 to $120.00. They now have an “outperform” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Northland Securities from $119.00 to $142.00. They now have an “outperform” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at The Goldman Sachs Group, Inc. from $96.00 to $107.00. They now have a “neutral” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at UBS Group AG from $110.00 to $120.00. They now have a “neutral” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Cantor Fitzgerald from $120.00 to $125.00. They now have a “neutral” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Susquehanna from $55.00 to $65.00. They now have a “negative” rating on the stock.
• 7/24/2024 – Seagate Technology had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Barclays PLC from $80.00 to $95.00. They now have an “equal weight” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Wells Fargo & Company from $90.00 to $120.00. They now have an “equal weight” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Citigroup Inc. from $120.00 to $125.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Loop Capital from $105.00 to $135.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at Rosenblatt Securities from $115.00 to $125.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Seagate Technology had its price target raised by analysts at TD Cowen from $110.00 to $135.00. They now have a “buy” rating on the stock.
• 7/22/2024 – Seagate Technology had its price target raised by analysts at Wedbush from $100.00 to $130.00. They now have an “outperform” rating on the stock.
• 7/16/2024 – Seagate Technology had its price target raised by analysts at Evercore ISI from $110.00 to $125.00. They now have an “outperform” rating on the stock.
• 7/16/2024 – Seagate Technology had its price target raised by analysts at Cantor Fitzgerald from $100.00 to $120.00. They now have a “neutral” rating on the stock.
• 7/12/2024 – Seagate Technology had its price target raised by analysts at Citigroup Inc. from $110.00 to $120.00. They now have a “buy” rating on the stock.

Seagate Technology Stock Performance

STX stock traded down $0.72 during midday trading on Wednesday, reaching $97.48. The stock had a trading volume of 577,152 shares, compared to its average volume of 2,633,395. The firm has a fifty day simple moving average of $102.00 and a two-hundred day simple moving average of $94.15. The stock has a market cap of $20.49 billion, a PE ratio of -75.57 and a beta of 1.02. Seagate Technology Holdings plc has a 52-week low of $62.43 and a 52-week high of $113.57.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned ($0.29) earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 6.21 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors 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 2.87%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated 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 owns 654,270 shares in the company, valued at approximately $61,148,074.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gianluca Romano sold 25,760 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the completion of the sale, the chief financial officer now directly owns 52,620 shares of the company’s stock, valued at approximately $4,974,694.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,547 shares of company stock worth $7,084,361. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STX. New York State Common Retirement Fund raised its holdings in shares of Seagate Technology by 68.8% during the fourth quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock valued at $12,212,000 after acquiring an additional 58,300 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Seagate Technology in the 4th quarter valued at $230,000. Bessemer Group Inc. lifted its holdings in Seagate Technology by 68.7% in the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock valued at $1,634,000 after purchasing an additional 7,150 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Seagate Technology by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after purchasing an additional 6,044 shares during the last quarter. Finally, Chapin Davis Inc. raised its position in shares of Seagate Technology by 210.8% in the first quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock valued at $2,713,000 after buying an additional 19,773 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.