UBS Group Raises Seagate Technology (NASDAQ:STX) Price Target to $95.00

Seagate Technology (NASDAQ:STX) had its price target upped by UBS Group from $90.00 to $95.00 in a research note issued to investors on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the data storage provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Benchmark reissued a hold rating on shares of Seagate Technology in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an equal weight rating in a report on Thursday, February 1st. Rosenblatt Securities raised their target price on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a buy rating in a report on Thursday, January 25th. Evercore ISI assumed coverage on Seagate Technology in a research note on Tuesday, February 27th. They issued an outperform rating and a $110.00 price target for the company. Finally, Wedbush restated a neutral rating and set a $100.00 price objective on shares of Seagate Technology in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of Hold and an average target price of $94.53.

Seagate Technology Stock Down 1.4 %

Seagate Technology stock opened at $86.04 on Wednesday. The company’s 50-day moving average price is $89.25 and its two-hundred day moving average price is $82.92. The stock has a market cap of $18.03 billion, a P/E ratio of -66.70, a P/E/G ratio of 480.77 and a beta of 1.04. Seagate Technology has a twelve month low of $54.47 and a twelve month high of $101.26.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.43) EPS. Equities analysts anticipate that Seagate Technology will post 0.15 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in shares of Seagate Technology by 6.0% during the 3rd quarter. CWM LLC now owns 3,311 shares of the data storage provider’s stock valued at $218,000 after purchasing an additional 187 shares during the last quarter. IFP Advisors Inc boosted its position in Seagate Technology by 4.9% in the third quarter. IFP Advisors Inc now owns 3,542 shares of the data storage provider’s stock valued at $234,000 after buying an additional 164 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Seagate Technology by 23.4% during the third quarter. Global Retirement Partners LLC now owns 2,212 shares of the data storage provider’s stock worth $146,000 after buying an additional 419 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Seagate Technology by 23.2% during the third quarter. SG Americas Securities LLC now owns 21,613 shares of the data storage provider’s stock worth $1,425,000 after buying an additional 4,075 shares in the last quarter. Finally, Czech National Bank lifted its stake in shares of Seagate Technology by 47.8% in the 3rd quarter. Czech National Bank now owns 33,711 shares of the data storage provider’s stock valued at $2,223,000 after acquiring an additional 10,910 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.