Seagate Technology (NASDAQ:STX) Price Target Raised to $96.00

Seagate Technology (NASDAQ:STX) had its target price boosted by The Goldman Sachs Group from $84.00 to $96.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the data storage provider’s stock.

Other equities analysts have also issued reports about the company. Morgan Stanley raised Seagate Technology from an equal weight rating to an overweight rating and boosted their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Susquehanna upped their target price on Seagate Technology from $50.00 to $55.00 and gave the stock a negative rating in a research report on Wednesday, April 10th. Wedbush reiterated a neutral rating and set a $100.00 price target on shares of Seagate Technology in a report on Wednesday. Cantor Fitzgerald upped their price objective on Seagate Technology from $95.00 to $100.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on Seagate Technology from $80.00 to $90.00 and gave the company an equal weight rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $94.53.

Seagate Technology Trading Up 0.7 %

NASDAQ:STX opened at $87.11 on Wednesday. The stock has a market cap of $18.25 billion, a P/E ratio of -67.53, a price-to-earnings-growth ratio of 715.12 and a beta of 1.04. The stock’s 50-day moving average is $89.30 and its 200-day moving average is $82.64. Seagate Technology has a 1-year low of $54.47 and a 1-year high of $101.26.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company earned ($0.43) earnings per share. The business’s revenue was down 11.0% on a year-over-year basis. As a group, equities analysts forecast that Seagate Technology will post 0.1 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. Seagate Technology’s payout ratio is presently -217.05%.

Institutional Trading of Seagate Technology

Large investors have recently modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $26,000. CVA Family Office LLC purchased a new position in Seagate Technology in the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. Northwest Financial Advisors purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $31,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after buying an additional 205 shares during the period. 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.