Analysts Set Seagate Technology Holdings plc (NASDAQ:STX) PT at $115.94

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been assigned a consensus recommendation of “Hold” from the twenty analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $115.94.

A number of research analysts have weighed in on STX shares. UBS Group boosted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Robert W. Baird upped their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Evercore ISI upped their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Susquehanna upped their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a report on Wednesday, July 24th. Finally, Citigroup upped their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th.

Insider Activity

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 141,785 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 203,284 shares of company stock worth $21,647,287. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Seagate Technology

Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. boosted its stake in Seagate Technology by 68.7% in the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after purchasing an additional 7,150 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after purchasing an additional 6,044 shares in the last quarter. Chapin Davis Inc. boosted its stake in Seagate Technology by 210.8% in the 1st quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock worth $2,713,000 after purchasing an additional 19,773 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Seagate Technology by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock worth $11,620,000 after purchasing an additional 1,419 shares in the last quarter. Finally, Sanders Capital LLC lifted its stake in Seagate Technology by 3.0% during the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock valued at $1,322,053,000 after acquiring an additional 443,768 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Up 0.7 %

STX stock opened at $109.53 on Tuesday. Seagate Technology has a twelve month low of $64.12 and a twelve month high of $113.57. The stock has a market capitalization of $23.00 billion, a price-to-earnings ratio of -84.91 and a beta of 1.03. The firm’s fifty day simple moving average is $101.37 and its two-hundred day simple moving average is $97.12.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the business posted ($0.29) earnings per share. The business’s revenue was up 17.8% compared to the same quarter last year. As a group, equities research analysts expect that Seagate Technology will post 6.72 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.

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.