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

Seagate Technology Holdings plc (NASDAQ:STX) has earned a consensus rating of “Hold” from the nineteen analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six 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 issued ratings on the stock in the last year is $118.83.

A number of equities research analysts recently commented on STX shares. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Citigroup upped their price target on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI lifted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Northland Securities upped their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd.

Seagate Technology Trading Down 1.4 %

Shares of NASDAQ STX opened at $97.59 on Friday. Seagate Technology has a 1-year low of $79.39 and a 1-year high of $115.32. The company has a 50-day moving average of $103.23 and a two-hundred day moving average of $102.19. The company has a market cap of $20.64 billion, a PE ratio of 25.48 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The company 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 32.19% and a net margin of 11.34%. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.34) earnings per share. As a group, equities research analysts forecast that Seagate Technology will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the sale, the executive vice president now directly owns 9,969 shares in the company, valued at $1,096,590. This trade represents a 32.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. This represents a 17.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,820 shares of company stock worth $23,953,746 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently bought and sold shares of the business. Park Avenue Securities LLC raised its holdings in Seagate Technology by 8.1% in the 2nd quarter. Park Avenue Securities LLC now owns 6,040 shares of the data storage provider’s stock valued at $624,000 after acquiring an additional 450 shares in the last quarter. CWM LLC raised its stake in Seagate Technology by 3.0% in the second quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after purchasing an additional 97 shares in the last quarter. Czech National Bank lifted its position in Seagate Technology by 8.5% during the second quarter. Czech National Bank now owns 37,214 shares of the data storage provider’s stock worth $3,843,000 after purchasing an additional 2,931 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Seagate Technology during the second quarter worth about $255,000. Finally, Bangor Savings Bank increased its holdings in Seagate Technology by 3.1% in the 2nd quarter. Bangor Savings Bank now owns 7,666 shares of the data storage provider’s stock valued at $792,000 after buying an additional 231 shares during the period. 92.87% of the stock is owned by institutional investors.

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.