Seagate Technology (NASDAQ:STX) Price Target Raised to $125.00 at Rosenblatt Securities

Seagate Technology (NASDAQ:STX) had its price target increased by Rosenblatt Securities from $115.00 to $125.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

STX has been the subject of a number of other research reports. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $84.00 to $96.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Citigroup raised their price objective on Seagate Technology from $110.00 to $120.00 and gave the stock a buy rating in a research report on Friday, July 12th. Wedbush increased their price target on Seagate Technology from $100.00 to $130.00 and gave the company an outperform rating in a research note on Monday, July 22nd. UBS Group boosted their price target on Seagate Technology from $90.00 to $95.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Finally, Benchmark reiterated a hold rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $115.94.

Seagate Technology Trading Down 0.3 %

Shares of NASDAQ:STX opened at $103.68 on Wednesday. The company has a market capitalization of $21.77 billion, a PE ratio of -80.37 and a beta of 1.02. Seagate Technology has a 12-month low of $57.79 and a 12-month high of $113.57. The business’s fifty day simple moving average is $101.31 and its 200-day simple moving average is $93.16.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. Research analysts predict that Seagate Technology will post 5.65 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.70%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.

Insider Buying and Selling at Seagate Technology

In related news, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the transaction, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,648 shares of company stock valued at $4,705,816. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. Leisure Capital Management raised its position in Seagate Technology by 5.9% during the second quarter. Leisure Capital Management now owns 15,830 shares of the data storage provider’s stock worth $1,635,000 after acquiring an additional 881 shares during the period. HB Wealth Management LLC increased its stake in shares of Seagate Technology by 46.4% during the second quarter. HB Wealth Management LLC now owns 4,097 shares of the data storage provider’s stock worth $423,000 after purchasing an additional 1,298 shares in the last quarter. Kintegral Advisory LLC raised its position in shares of Seagate Technology by 26.6% during the 2nd quarter. Kintegral Advisory LLC now owns 7,557 shares of the data storage provider’s stock worth $786,000 after purchasing an additional 1,587 shares during the last quarter. Emfo LLC purchased a new position in Seagate Technology in the 2nd quarter valued at about $181,000. Finally, Checchi Capital Advisers LLC boosted its holdings in Seagate Technology by 3.8% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,945 shares of the data storage provider’s stock worth $407,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds 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.