Seagate Technology (NASDAQ:STX) Price Target Increased to $125.00 by Analysts at Cantor Fitzgerald

Seagate Technology (NASDAQ:STX) had its target price increased by Cantor Fitzgerald from $120.00 to $125.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the data storage provider’s stock.

Several other research firms also recently issued reports on STX. Bank of America reiterated a buy rating and set a $110.00 price target on shares of Seagate Technology in a research note on Wednesday, June 5th. Evercore ISI boosted their price objective on Seagate Technology from $110.00 to $125.00 and gave the stock an outperform rating in a research report on Tuesday, July 16th. Morgan Stanley boosted their price objective on Seagate Technology from $115.00 to $133.00 and gave the stock an overweight rating in a research report on Wednesday. Loop Capital boosted their price objective on Seagate Technology from $105.00 to $110.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Finally, TD Cowen boosted their price objective on Seagate Technology from $110.00 to $135.00 and gave the stock a buy rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $115.94.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $103.68 on Wednesday. The business’s 50-day moving average price is $101.31 and its two-hundred day moving average price is $93.16. Seagate Technology has a one year low of $57.79 and a one year high of $113.57. The company has a market capitalization of $21.77 billion, a P/E ratio of -80.37 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.29) EPS. On average, equities analysts anticipate that Seagate Technology will post 5.65 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be paid a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.70%. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

Insider Activity

In other news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,648 shares of company stock valued at $4,705,816. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Seagate Technology during the fourth quarter worth $26,000. CVA Family Office LLC bought a new position in Seagate Technology during the fourth quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Seagate Technology during the fourth quarter worth about $28,000. Northwest Financial Advisors bought a new position in Seagate Technology during the fourth quarter worth about $31,000. Finally, Family Firm Inc. bought a new position in Seagate Technology during the second quarter worth about $41,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.