Seagate Technology Holdings plc (NASDAQ:STX) Receives $94.53 Consensus Target Price from Analysts

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have received an average rating of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $94.53.

STX has been the topic of several research analyst reports. Susquehanna raised 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. Evercore ISI initiated coverage on Seagate Technology in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 target price on the stock. Mizuho reiterated a “buy” rating and issued a $100.00 target price on shares of Seagate Technology in a research note on Tuesday, April 9th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Finally, TD Cowen lifted their price target on Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Seagate Technology by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 24,006,681 shares of the data storage provider’s stock valued at $2,049,450,000 after acquiring an additional 425,117 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Seagate Technology by 9.2% in 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 buying an additional 1,485,937 shares during the period. Capital Research Global Investors boosted its position in shares of Seagate Technology by 39.3% in the fourth quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after buying an additional 4,685,454 shares during the period. Sanders Capital LLC boosted its position in shares of Seagate Technology by 3.0% in the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after buying an additional 443,768 shares during the period. Finally, FMR LLC boosted its position in shares of Seagate Technology by 13.1% in the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock worth $918,664,000 after buying an additional 1,612,264 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Price Performance

STX stock opened at $85.81 on Friday. The firm has a market capitalization of $18.02 billion, a P/E ratio of -66.52, a P/E/G ratio of 238.73 and a beta of 1.04. The business’s 50-day moving average is $89.22 and its two-hundred day moving average is $83.28. Seagate Technology has a 1 year low of $54.47 and a 1 year high of $101.26.

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, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned ($0.43) EPS. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, analysts expect that Seagate Technology will post 0.3 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 3.26%. Seagate Technology’s payout ratio is currently -217.05%.

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.