Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Recommendation of “Hold” by Analysts

Seagate Technology Holdings plc (NASDAQ:STX) has been assigned a consensus rating of “Hold” from the twenty analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $115.94.

STX has been the subject of several recent research reports. Mizuho boosted their target price on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Evercore ISI boosted their target price on shares of Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Loop Capital boosted their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, July 24th. Finally, Wedbush boosted their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd.

Seagate Technology Stock Performance

Shares of STX opened at $97.54 on Friday. The company’s 50 day moving average price is $101.96 and its 200 day moving average price is $95.26. Seagate Technology has a 52 week low of $62.43 and a 52 week high of $113.57. The company has a market capitalization of $20.50 billion, a PE ratio of -75.61 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.29) earnings per share. On average, equities analysts forecast that Seagate Technology will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

Insider Buying and Selling

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 owns 12,185 shares of the company’s stock, valued at approximately $1,218,378.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 owns 12,185 shares of the company’s stock, valued at approximately $1,218,378.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the transaction, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. Insiders sold 72,547 shares of company stock worth $7,084,361 in the last quarter. 0.89% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently modified their holdings of the company. Quarry LP acquired a new stake in Seagate Technology during the 2nd quarter worth approximately $27,000. Northwest Financial Advisors acquired a new stake in Seagate Technology during the 4th quarter worth approximately $31,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 period. Family Firm Inc. acquired a new stake in Seagate Technology during the 2nd quarter worth approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Seagate Technology during the 4th quarter worth approximately $44,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.