Analysts Set Seagate Technology Holdings plc (NASDAQ:STX) Price Target at $122.56

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have received a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $122.56.

STX has been the topic of a number of research reports. Wells Fargo & Company reduced their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Bank of America boosted their target price on Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Citigroup boosted their target price on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, Rosenblatt Securities boosted their target price on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd.

Seagate Technology Price Performance

NASDAQ:STX opened at $100.85 on Friday. Seagate Technology has a 1 year low of $82.31 and a 1 year high of $115.32. The stock’s 50 day simple moving average is $95.02 and its two-hundred day simple moving average is $99.89. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 18.44 and a beta of 1.07.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 2.86%. Seagate Technology’s dividend payout ratio is presently 52.65%.

Insiders Place Their Bets

In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the sale, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,891 shares of company stock valued at $2,146,848 over the last quarter. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently modified their holdings of STX. Vanguard Group Inc. boosted its holdings in shares of Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the last quarter. Sanders Capital LLC grew its stake in Seagate Technology by 1.0% in the fourth quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider’s stock worth $1,426,717,000 after purchasing an additional 162,561 shares in the last quarter. Capital Research Global Investors boosted its stake in Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock valued at $1,348,262,000 after acquiring an additional 5,640,443 shares during the period. State Street Corp boosted its stake 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 period. Finally, Geode Capital Management LLC boosted its stake in Seagate Technology by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider’s stock valued at $370,013,000 after acquiring an additional 132,713 shares during the period. Institutional investors and hedge funds 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.