Brokerages Set Seagate Technology Holdings plc (NASDAQ:STX) Price Target at $118.83

Seagate Technology Holdings plc (NASDAQ:STX) has received an average rating of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $118.83.

A number of brokerages have issued reports on STX. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Barclays upped their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Susquehanna increased their price target on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price objective on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. This represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Seagate Technology by 3.1% during the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after acquiring an additional 746,395 shares in the last quarter. Sanders Capital LLC increased its stake in Seagate Technology by 0.9% in the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after buying an additional 150,115 shares during the last quarter. State Street Corp lifted its position in Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after buying an additional 541,585 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after acquiring an additional 318,416 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Seagate Technology by 14.5% in the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after acquiring an additional 337,464 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $97.80 on Wednesday. Seagate Technology has a twelve month low of $75.52 and a twelve month high of $115.32. The firm has a market cap of $20.69 billion, a P/E ratio of 25.54 and a beta of 1.05. The firm’s 50-day simple moving average is $104.94 and its 200-day simple moving average is $101.52.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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 company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company’s revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) EPS. On average, equities analysts forecast that Seagate Technology will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.94%. Seagate Technology’s payout ratio is 73.11%.

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.