Analysts Set Seagate Technology Holdings plc (NASDAQ:STX) PT at $118.83

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have received a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $118.83.

A number of equities research analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Citigroup increased their price target on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Northland Securities boosted their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $89.11 on Thursday. Seagate Technology has a 12 month low of $79.39 and a 12 month high of $115.32. The firm has a market capitalization of $18.85 billion, a P/E ratio of 23.27 and a beta of 1.06. The company’s fifty day moving average price is $96.24 and its 200 day moving average price is $101.04.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) EPS. On average, sell-side analysts anticipate that Seagate Technology will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Sunday, December 15th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 3.23%. Seagate Technology’s payout ratio is currently 75.20%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the sale, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,304 shares of company stock valued at $5,656,238. Insiders own 0.81% of the company’s stock.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Point72 Asset Management L.P. acquired a new position in shares of Seagate Technology in the 3rd quarter valued at $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Seagate Technology by 341.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after buying an additional 1,012,638 shares during the period. State Street Corp boosted its holdings in Seagate Technology by 6.8% in the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after acquiring an additional 541,585 shares during the last quarter. Franklin Resources Inc. grew its position in Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after acquiring an additional 405,232 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Seagate Technology during the second quarter worth about $35,349,000. Hedge funds and other 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.