Seagate Technology (NASDAQ:STX) Price Target Increased to $100.00 by Analysts at Cantor Fitzgerald

Seagate Technology (NASDAQ:STX) had its target price boosted by Cantor Fitzgerald from $95.00 to $100.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the data storage provider’s stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company raised their price target on Seagate Technology from $80.00 to $90.00 and gave the company an equal weight rating in a research report on Thursday, February 1st. Barclays decreased their price objective on Seagate Technology from $85.00 to $80.00 and set an equal weight rating on the stock in a research note on Monday. TD Cowen increased their price objective on Seagate Technology from $85.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Susquehanna increased their price objective 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, BNP Paribas lowered Seagate Technology from a neutral rating to an underperform rating and set a $65.00 price objective on the stock. in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $94.53.

Seagate Technology Stock Performance

NASDAQ:STX opened at $87.11 on Wednesday. The stock has a fifty day moving average price of $89.30 and a two-hundred day moving average price of $82.64. The stock 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 has a 1 year low of $54.47 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business earned ($0.43) EPS. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, analysts predict that Seagate Technology will post 0.1 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders 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 dividend yield of 3.21%. Seagate Technology’s payout ratio is currently -217.05%.

Institutional Trading of Seagate Technology

A number of institutional investors have recently modified their holdings of STX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $26,000. CVA Family Office LLC purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $28,000. Parkside Financial Bank & Trust grew 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 purchasing an additional 205 shares during the period. Finally, Northwest Financial Advisors purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.