Seagate Technology Holdings PLC (NASDAQ:STX) Receives $293.13 Average PT from Brokerages

Seagate Technology Holdings PLC (NASDAQ:STX) has been assigned an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eighteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $293.1304.

A number of brokerages recently issued reports on STX. Evercore ISI upped their price objective on shares of Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 15th. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Benchmark upped their price objective on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, UBS Group cut their target price on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th.

Seagate Technology Stock Up 1.5%

Shares of NASDAQ:STX opened at $296.36 on Thursday. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $308.93. The stock has a market cap of $63.29 billion, a P/E ratio of 38.04, a PEG ratio of 1.16 and a beta of 1.59. The business has a fifty day moving average of $260.33 and a two-hundred day moving average of $200.42.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is 36.97%.

Insider Buying and Selling

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the completion of the transaction, the executive vice president owned 12,041 shares of the company’s stock, valued at $3,251,070. This trade represents a 33.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kian Fatt Chong sold 7,078 shares of Seagate Technology stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $272.14, for a total transaction of $1,926,206.92. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 132,555 shares of company stock valued at $36,030,007 over the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at $27,000. Rakuten Securities Inc. grew its position in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. MTM Investment Management LLC acquired a new position in Seagate Technology in the 2nd quarter valued at about $29,000. First Horizon Corp purchased a new stake in Seagate Technology during the third quarter worth about $33,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Seagate Technology during the third quarter worth about $33,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.