Seagate Technology Holdings PLC (NASDAQ:STX) Receives $283.41 Consensus Target Price from Analysts

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) have been given a consensus recommendation of “Moderate Buy” by the twenty-five analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, seventeen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $283.4091.

A number of equities research analysts recently issued reports on STX shares. The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. UBS Group lowered their price objective on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Wells Fargo & Company increased their target price on Seagate Technology from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Loop Capital lifted their target price on Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, TD Cowen boosted their price target on Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the transaction, the chief financial officer directly owned 56,293 shares of the company’s stock, valued at $16,052,511.88. The trade was a 48.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Christopher Morris sold 15,347 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the sale, the executive vice president owned 9,843 shares of the company’s stock, valued at approximately $1,927,259.40. This represents a 60.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 131,261 shares of company stock valued at $34,210,708 in the last three months. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

Several large investors have recently added to or reduced their stakes in STX. Harbor Asset Planning Inc. acquired a new position in shares of Seagate Technology during the second quarter worth about $27,000. Rakuten Securities Inc. lifted its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares in the last quarter. MTM Investment Management LLC acquired a new position in Seagate Technology during the 2nd quarter worth approximately $29,000. First Horizon Corp purchased a new position in Seagate Technology in the 3rd quarter worth approximately $33,000. Finally, Raiffeisen Bank International AG acquired a new stake in Seagate Technology in the third quarter valued at approximately $33,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Trading Up 1.6%

Shares of NASDAQ:STX opened at $276.60 on Friday. The firm has a market cap of $59.07 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 1.17 and a beta of 1.63. The stock’s 50-day moving average price is $245.01 and its two-hundred day moving average price is $182.55. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $297.88.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 24th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio (DPR) is presently 38.00%.

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.