Seagate Technology (NASDAQ:STX) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Seagate Technology (NASDAQ:STX) in a research report report published on Wednesday, Benzinga reports. Cantor Fitzgerald currently has a $125.00 price target on the data storage provider’s stock.

STX has been the subject of several other reports. Northland Securities boosted their price target on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday. Susquehanna raised their price target on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird upped their target price on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $118.83.

Seagate Technology Price Performance

STX opened at $103.52 on Wednesday. The company has a market capitalization of $21.79 billion, a PE ratio of 67.22 and a beta of 1.04. The business has a fifty day simple moving average of $105.04 and a 200 day simple moving average of $99.55. Seagate Technology has a 1 year low of $64.12 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted ($0.34) earnings per share. Seagate Technology’s quarterly revenue was up 49.1% on a year-over-year basis. Equities analysts anticipate that Seagate Technology will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.78%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is currently 181.82%.

Insider Activity at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now owns 7,191 shares in the company, valued at approximately $804,672.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 214,298 shares of company stock valued at $22,814,576 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in Seagate Technology in the second quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of 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. purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at approximately $41,000. Larson Financial Group LLC boosted its holdings 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 worth $49,000 after buying an additional 473 shares during the period. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in Seagate Technology in the 3rd quarter valued at approximately $55,000. Institutional investors own 92.87% of the company’s stock.

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.