Brokerages Set Seagate Technology Holdings plc (NASDAQ:STX) PT at $118.83

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been assigned a consensus rating of “Hold” from the nineteen research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $118.83.

Several research firms have weighed in on STX. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Rosenblatt Securities increased their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Northland Securities upped their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price target on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd.

Seagate Technology Price Performance

STX stock opened at $97.64 on Friday. The firm has a market capitalization of $20.65 billion, a P/E ratio of 25.49 and a beta of 1.03. The company’s 50 day simple moving average is $102.80 and its 200-day simple moving average is $102.14. Seagate Technology has a 52-week low of $79.39 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) EPS. Sell-side analysts predict that Seagate Technology will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.95%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is currently 75.20%.

Insider Buying and Selling

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 stock was 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 approximately $63,947,726.41. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,820 shares of company stock valued at $23,953,746 over the last ninety days. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Sequoia Financial Advisors LLC lifted its holdings in shares of Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after purchasing an additional 89 shares in the last quarter. CWM LLC lifted its stake in Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after acquiring an additional 97 shares in the last quarter. Affinity Capital Advisors LLC lifted its stake in Seagate Technology by 1.5% in the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock valued at $725,000 after acquiring an additional 100 shares in the last quarter. Forum Financial Management LP lifted its stake in Seagate Technology by 4.0% in the 2nd quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock valued at $333,000 after acquiring an additional 125 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its stake in Seagate Technology by 2.5% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 5,190 shares of the data storage provider’s stock valued at $536,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

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.