Seagate Technology Holdings plc (NASDAQ:STX) Receives Average Rating of “Hold” from Analysts

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have received an average rating of “Hold” from the nineteen brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $100.94.

A number of equities research analysts have issued reports on the company. Wedbush raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 target price for the company in a research report on Wednesday, May 1st. UBS Group increased their price objective on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Evercore ISI increased their price target on Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Susquehanna lifted their price objective on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares in the company, valued at approximately $1,442,575. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John Christopher Morris sold 5,928 shares of the firm’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 directly owns 12,185 shares in the company, valued at approximately $1,218,378.15. The disclosure for this sale can be found here. Insiders sold 37,531 shares of company stock valued at $3,592,946 in the last quarter. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several large investors have recently bought and sold shares of the business. Deutsche Bank AG boosted its stake in shares of Seagate Technology by 10.7% during the third quarter. Deutsche Bank AG now owns 652,989 shares of the data storage provider’s stock valued at $43,065,000 after purchasing an additional 63,191 shares during the period. Wellington Management Group LLP increased its holdings in shares of Seagate Technology by 3.0% during the third quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock valued at $288,960,000 after acquiring an additional 127,214 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Seagate Technology by 8.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 19,340 shares of the data storage provider’s stock valued at $1,289,000 after acquiring an additional 1,568 shares in the last quarter. CCM Investment Advisers LLC raised its position in Seagate Technology by 0.9% during the 3rd quarter. CCM Investment Advisers LLC now owns 146,847 shares of the data storage provider’s stock worth $9,685,000 after buying an additional 1,362 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Seagate Technology by 91.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the data storage provider’s stock worth $106,000 after buying an additional 589 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Down 3.5 %

NASDAQ STX opened at $104.91 on Thursday. The stock’s 50-day moving average price is $99.97 and its two-hundred day moving average price is $92.01. The company has a market cap of $22.03 billion, a PE ratio of -81.33 and a beta of 1.02. Seagate Technology has a 1 year low of $57.32 and a 1 year high of $109.63.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. The company’s revenue was down 11.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.43) EPS. Research analysts forecast that Seagate Technology will post 0.44 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, June 20th were paid a $0.70 dividend. The ex-dividend date was Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. Seagate Technology’s dividend payout ratio (DPR) is -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.