Seagate Technology Holdings plc (NASDAQ:STX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Seagate Technology Holdings plc (NASDAQ:STX) has been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $121.56.

STX has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. Susquehanna boosted their price target on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research note on Wednesday, January 22nd. Northland Securities reiterated an “outperform” rating and set a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd.

Seagate Technology Stock Up 3.0 %

Shares of NASDAQ:STX opened at $90.51 on Tuesday. Seagate Technology has a 12-month low of $82.31 and a 12-month high of $115.32. The company’s 50 day moving average price is $96.35 and its two-hundred day moving average price is $99.06. The firm has a market cap of $19.16 billion, a PE ratio of 16.55 and a beta of 1.01.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.18%. Seagate Technology’s payout ratio is presently 52.65%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new stake in shares of Seagate Technology in the 3rd quarter valued at about $259,000. Victory Capital Management Inc. lifted its stake in shares of Seagate Technology by 133.8% in the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after acquiring an additional 98,418 shares during the period. Metis Global Partners LLC boosted its holdings in Seagate Technology by 2.0% in the third quarter. Metis Global Partners LLC now owns 9,663 shares of the data storage provider’s stock valued at $1,058,000 after acquiring an additional 192 shares during the last quarter. CIBC Asset Management Inc increased its position in Seagate Technology by 14.4% during the 3rd quarter. CIBC Asset Management Inc now owns 30,578 shares of the data storage provider’s stock valued at $3,349,000 after purchasing an additional 3,848 shares during the period. Finally, Empowered Funds LLC raised its holdings in Seagate Technology by 6.8% during the 3rd quarter. Empowered Funds LLC now owns 3,274 shares of the data storage provider’s stock worth $359,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

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.