Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Recommendation of “Hold” by Brokerages

Seagate Technology Holdings plc (NASDAQ:STX) has earned an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $94.53.

A number of brokerages recently commented on STX. Wedbush restated a “neutral” rating and set a $100.00 price objective on shares of Seagate Technology in a report on Wednesday. Susquehanna raised their price objective on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a report on Wednesday, April 10th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Finally, Barclays lowered their price target on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd.

Seagate Technology Stock Down 1.4 %

Shares of NASDAQ:STX opened at $86.04 on Friday. Seagate Technology has a 12 month low of $54.47 and a 12 month high of $101.26. The company’s fifty day simple moving average is $89.25 and its 200 day simple moving average is $82.81. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of -66.70, a PEG ratio of 719.92 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business earned ($0.43) earnings per share. The company’s revenue was down 11.0% on a year-over-year basis. Research analysts expect that Seagate Technology will post 0.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Seagate Technology during the 4th quarter worth about $26,000. CVA Family Office LLC bought a new stake in shares of Seagate Technology during the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Seagate Technology during the 4th quarter worth about $28,000. Parkside Financial Bank & Trust boosted its holdings in shares of Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after buying an additional 205 shares during the period. Finally, Northwest Financial Advisors bought a new stake in shares of Seagate Technology during the 4th quarter worth about $31,000. 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.