Brokerages Set Seagate Technology Holdings plc (NASDAQ:STX) PT at $115.94

Seagate Technology Holdings plc (NASDAQ:STX) has received a consensus rating of “Hold” from the nineteen brokerages that are covering the stock, Marketbeat reports. Two investment 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 1 year target price among brokers that have issued ratings on the stock in the last year is $118.83.

A number of brokerages have issued reports on STX. Wells Fargo & Company boosted their price target on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Rosenblatt Securities boosted their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Northland Securities upped their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday.

Insider Activity

In other Seagate Technology news, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the completion of the transaction, the chief financial officer now owns 52,620 shares of the company’s stock, valued at $4,974,694.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Ban Seng Teh sold 4,872 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the transaction, the chief financial officer now owns 52,620 shares of the company’s stock, valued at $4,974,694.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,398 shares of company stock valued at $23,238,106 over the last 90 days. 0.89% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in Seagate Technology in the 2nd quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $41,000. JFS Wealth Advisors LLC lifted its holdings in Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 293 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after acquiring an additional 473 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $103.01 on Friday. Seagate Technology has a 1 year low of $64.12 and a 1 year high of $115.32. The firm has a market capitalization of $21.63 billion, a PE ratio of -79.85 and a beta of 1.04. The business’s 50 day moving average price is $105.16 and its 200-day moving average price is $99.68.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 30.18% and a net margin of 11.34%. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same period last year, the company earned ($0.34) EPS. As a group, analysts expect that Seagate Technology will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is currently -217.05%.

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.