Seagate Technology Holdings plc (NASDAQ:STX) Given Average Rating of “Hold” by Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been given a consensus rating of “Hold” by the nineteen brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $118.83.

Several analysts recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $125.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Evercore ISI increased their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd.

Insider Activity at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the transaction, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This trade represents a 10.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the sale, the chief executive officer now directly owns 642,497 shares in the company, valued at $63,947,726.41. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,304 shares of company stock worth $5,656,238. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Insight Wealth Strategies LLC purchased a new stake in shares of Seagate Technology during the 4th quarter worth $3,543,000. Nordea Investment Management AB raised its stake in Seagate Technology by 5.8% in the fourth quarter. Nordea Investment Management AB now owns 15,555 shares of the data storage provider’s stock valued at $1,349,000 after buying an additional 856 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Seagate Technology by 74.2% during the 3rd quarter. Principal Financial Group Inc. now owns 354,013 shares of the data storage provider’s stock worth $38,775,000 after buying an additional 150,734 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Seagate Technology by 7.3% during the 3rd quarter. Retirement Systems of Alabama now owns 46,213 shares of the data storage provider’s stock worth $5,062,000 after acquiring an additional 3,135 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Seagate Technology in the 3rd quarter valued at about $7,112,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Seagate Technology stock opened at $89.11 on Thursday. The company’s fifty day moving average price is $96.24 and its 200 day moving average price is $101.04. The stock has a market capitalization of $18.85 billion, a P/E ratio of 23.27 and a beta of 1.06. Seagate Technology has a 1 year low of $79.39 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business 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 company earned ($0.34) earnings per share. The company’s quarterly revenue was up 49.1% on a year-over-year basis. Sell-side analysts predict that Seagate Technology will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were issued a $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Friday, December 13th. Seagate Technology’s dividend payout ratio is currently 75.20%.

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.