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

Seagate Technology Holdings plc (NASDAQ:STXGet Free Report) has been given a consensus recommendation of “Hold” by the twenty brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $115.94.

A number of research firms recently commented on STX. Robert W. Baird lifted their price objective on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Northland Securities boosted their target price on shares of Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. UBS Group increased their price target on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Bank of America reissued a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a research report on Wednesday, June 5th.

Read Our Latest Stock Analysis on Seagate Technology

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,297 shares of company stock worth $7,156,436. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Seagate Technology by 3.0% during the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after purchasing an additional 97 shares during the period. Csenge Advisory Group increased its stake in Seagate Technology by 1.4% in the 1st quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after acquiring an additional 119 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in Seagate Technology by 3.7% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after acquiring an additional 122 shares during the last quarter. Burney Co. raised its holdings in shares of Seagate Technology by 3.3% in the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock valued at $367,000 after acquiring an additional 125 shares in the last quarter. Finally, Forum Financial Management LP boosted its position in shares of Seagate Technology by 4.0% during the 2nd quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock valued at $333,000 after acquiring an additional 125 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

STX stock opened at $100.81 on Friday. The company has a market capitalization of $21.19 billion, a P/E ratio of -78.15 and a beta of 1.04. The company has a fifty day moving average price of $101.64 and a 200-day moving average price of $95.63. Seagate Technology has a 52-week low of $62.43 and a 52-week high of $113.57.

Seagate Technology (NASDAQ:STXGet Free Report) last announced its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned ($0.29) EPS. Seagate Technology’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Seagate Technology will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.

Seagate Technology Company Profile

(Get Free Report

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.

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Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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