Seagate Technology (NASDAQ:STX) Receives Hold Rating from Benchmark

Benchmark reaffirmed their hold rating on shares of Seagate Technology (NASDAQ:STX) in a research note released on Wednesday morning, Benzinga reports.

STX has been the subject of a number of other reports. Evercore ISI initiated coverage on Seagate Technology in a research note on Tuesday, February 27th. They set an outperform rating and a $110.00 price objective for the company. TD Cowen upped their price objective on Seagate Technology from $85.00 to $110.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Barclays decreased their price objective on Seagate Technology from $85.00 to $80.00 and set an equal weight rating for the company in a research note on Monday. Susquehanna increased their price target on Seagate Technology from $50.00 to $55.00 and gave the company a negative rating in a research note on Wednesday, April 10th. Finally, Rosenblatt Securities increased their price target on Seagate Technology from $100.00 to $115.00 and gave the company a buy rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $94.53.

Seagate Technology Trading Up 0.7 %

STX opened at $87.11 on Wednesday. Seagate Technology has a 12-month low of $54.47 and a 12-month high of $101.26. The business’s fifty day simple moving average is $89.30 and its 200-day simple moving average is $82.64. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of -67.53, a PEG ratio of 715.12 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Seagate Technology’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.43) EPS. On average, equities research analysts predict 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. Investors of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.21%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after acquiring an additional 1,485,937 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after acquiring an additional 561 shares during the period. Gotham Asset Management LLC grew its holdings in Seagate Technology by 51.1% during the third quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock worth $5,717,000 after acquiring an additional 29,323 shares during the period. SG Americas Securities LLC grew its holdings in Seagate Technology by 78.4% in the fourth quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock valued at $3,292,000 after purchasing an additional 16,950 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Seagate Technology by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 13,293 shares of the data storage provider’s stock valued at $1,144,000 after purchasing an additional 630 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

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.