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

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have earned a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $118.83.

STX has been the subject of several analyst reports. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Northland Securities lifted their price target on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th.

Seagate Technology Trading Down 2.0 %

Shares of NASDAQ STX opened at $99.80 on Wednesday. The stock has a fifty day simple moving average of $105.16 and a two-hundred day simple moving average of $101.20. Seagate Technology has a 1-year low of $71.67 and a 1-year high of $115.32. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 26.06 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.34) EPS. Analysts forecast that Seagate Technology will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is presently 73.11%.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at $291,567.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,820 shares of company stock worth $21,892,856. 0.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Seagate Technology during the third quarter valued at approximately $26,000. Quarry LP bought a new stake in Seagate Technology in the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC increased its position 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 valued at $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. bought a new position in Seagate Technology in the 2nd quarter worth $41,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares during the period. 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.