Seagate Technology (NASDAQ:STX) PT Raised to $135.00 at Loop Capital

Seagate Technology (NASDAQ:STX) had its target price increased by Loop Capital from $105.00 to $135.00 in a report issued on Wednesday morning, Benzinga reports. Loop Capital currently has a buy rating on the data storage provider’s stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. UBS Group increased their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a neutral rating in a research report on Wednesday. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a neutral rating in a research report on Wednesday. Barclays dropped their price objective on shares of Seagate Technology from $85.00 to $80.00 and set an equal weight rating on the stock in a research report on Monday, April 22nd. Finally, Benchmark reissued a hold rating on shares of Seagate Technology in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $115.94.

Seagate Technology Trading Down 0.3 %

Shares of STX stock opened at $103.68 on Wednesday. The company has a fifty day moving average price of $101.31 and a two-hundred day moving average price of $93.16. Seagate Technology has a one year low of $57.79 and a one year high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) earnings per share. On average, research analysts expect that Seagate Technology will post 6.21 EPS for the current year.

Seagate Technology Announces Dividend

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

Insiders Place Their Bets

In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the sale, the senior vice president now directly owns 12,185 shares in the company, valued at $1,218,378.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the sale, the senior vice president now directly owns 12,185 shares in the company, valued at $1,218,378.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares in the company, valued at $592,570. The disclosure for this sale can be found here. Insiders have sold 47,648 shares of company stock worth $4,705,816 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Seagate Technology during the 4th quarter worth approximately $28,000. Northwest Financial Advisors acquired a new stake in Seagate Technology during the 4th quarter worth approximately $31,000. Finally, Family Firm Inc. acquired a new stake in Seagate Technology during the 2nd quarter worth approximately $41,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.