Rosenblatt Securities Boosts Seagate Technology (NASDAQ:STX) Price Target to $125.00

Seagate Technology (NASDAQ:STX) had its target price hoisted by Rosenblatt Securities from $115.00 to $125.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the data storage provider’s stock.

Other equities analysts have also recently issued research reports about the stock. TD Cowen raised their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a buy rating in a report on Wednesday. Loop Capital upped their target price on shares of Seagate Technology from $105.00 to $110.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Bank of America reaffirmed a buy rating and set a $110.00 price target on shares of Seagate Technology in a report on Wednesday, June 5th. Barclays decreased their price objective on Seagate Technology from $85.00 to $80.00 and set an equal weight rating for the company in a report on Monday, April 22nd. Finally, UBS Group lifted their target price on Seagate Technology from $90.00 to $95.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $115.94.

Seagate Technology Stock Performance

STX opened at $103.68 on Wednesday. The company has a market capitalization of $21.77 billion, a P/E ratio of -80.37 and a beta of 1.02. The company has a 50-day moving average of $101.31 and a 200-day moving average of $93.16. Seagate Technology has a 1-year low of $57.79 and a 1-year high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating 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 firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company earned ($0.29) earnings per share. Seagate Technology’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology will post 5.65 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.70%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Insider Buying and Selling

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the sale, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The disclosure for this sale can be found here. Insiders have sold 47,648 shares of company stock worth $4,705,816 in the last three months. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in STX. Leisure Capital Management boosted its holdings in shares of Seagate Technology by 5.9% during the second quarter. Leisure Capital Management now owns 15,830 shares of the data storage provider’s stock worth $1,635,000 after purchasing an additional 881 shares during the period. HB Wealth Management LLC grew its holdings in shares of Seagate Technology by 46.4% during the 2nd quarter. HB Wealth Management LLC now owns 4,097 shares of the data storage provider’s stock valued at $423,000 after acquiring an additional 1,298 shares in the last quarter. Kintegral Advisory LLC increased its stake in shares of Seagate Technology by 26.6% in the second quarter. Kintegral Advisory LLC now owns 7,557 shares of the data storage provider’s stock worth $786,000 after acquiring an additional 1,587 shares during the last quarter. Emfo LLC acquired a new position in shares of Seagate Technology in the second quarter worth $181,000. Finally, Checchi Capital Advisers LLC increased its stake in shares of Seagate Technology by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 3,945 shares of the data storage provider’s stock worth $407,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds 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.