Seagate Technology (NASDAQ:STX) Price Target Raised to $105.00

Seagate Technology (NASDAQ:STX) had its price objective increased by UBS Group from $95.00 to $105.00 in a research report sent to investors on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the data storage provider’s stock.

Several other equities analysts have also weighed in on the stock. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI increased their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Susquehanna boosted their price objective on Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a report on Wednesday. Morgan Stanley lowered their target price on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their price target on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $122.56.

Seagate Technology Stock Up 6.8 %

Shares of NASDAQ STX opened at $108.18 on Wednesday. Seagate Technology has a twelve month low of $82.31 and a twelve month high of $115.32. The company has a market cap of $22.88 billion, a PE ratio of 28.25 and a beta of 1.06. The business’s 50 day moving average price is $94.55 and its two-hundred day moving average price is $100.33.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned ($0.34) EPS. The firm’s revenue was up 49.1% compared to the same quarter last year. As a group, research analysts anticipate that Seagate Technology will post 7.18 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is presently 75.20%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the sale, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were 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 of the company’s stock, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,073 shares of company stock valued at $5,106,149. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Capital LLC boosted its stake in shares of Seagate Technology by 0.9% during the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after purchasing an additional 150,115 shares in the last quarter. State Street Corp raised its holdings in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after buying an additional 541,585 shares during the last quarter. Geode Capital Management LLC boosted its position in Seagate Technology by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after buying an additional 318,416 shares during the period. Franklin Resources Inc. grew its holdings in Seagate Technology by 29.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after acquiring an additional 405,232 shares during the last quarter. Finally, Duquesne Family Office LLC increased its position in Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after acquiring an additional 316,295 shares during the period. 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.