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

Seagate Technology Holdings plc (NASDAQ:STX) has been given a consensus rating of “Hold” by the twenty analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $115.94.

Several brokerages have weighed in on STX. Morgan Stanley lifted their target price on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Susquehanna lifted their price target on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. Barclays raised their price objective on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Loop Capital boosted their target price on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the completion of the transaction, the chief executive officer now owns 648,616 shares of the company’s stock, valued at $69,842,970.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the sale, the chief executive officer now directly owns 648,616 shares of the company’s stock, valued at $69,842,970.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 5,387 shares in the company, valued at $592,570. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 223,284 shares of company stock worth $23,800,887 in the last quarter. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. acquired a new stake in shares of Seagate Technology during the second quarter worth about $41,000. Larson Financial Group LLC boosted its position in Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after buying an additional 473 shares during the period. Finally, Viking Fund Management LLC grew its stake in Seagate Technology by 722.2% during the 1st quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 650 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Down 0.3 %

Shares of STX opened at $112.12 on Friday. The firm has a market cap of $23.60 billion, a price-to-earnings ratio of 72.81 and a beta of 1.04. The business’s 50 day moving average is $104.29 and its two-hundred day moving average is $99.10. Seagate Technology has a 52-week low of $64.12 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.29. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. Seagate Technology’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) earnings per share. On average, equities analysts expect that Seagate Technology will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 23rd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, September 23rd. Seagate Technology’s payout ratio is 181.82%.

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.