Seagate Technology Holdings PLC (STX) – What Are Brokerages Saying About This Stock?

Seagate Technology Holdings PLC (NASDAQ:STX) has been assigned an average rating of “Moderate Buy” from the twenty-eight brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $1,000.88.

Several research firms have recently commented on STX. Susquehanna lowered their price target on shares of Seagate Technology from $925.00 to $765.00 and set a “neutral” rating on the stock in a report on Wednesday, October 28th. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 price target on shares of Seagate Technology in a research note on Wednesday, October 28th. Barclays increased their price objective on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. TD Cowen reduced their price objective on Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Finally, Argus boosted their target price on Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th.

Insider Activity at Seagate Technology

In related news, EVP Ban Teh sold 52,730 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the sale, the executive vice president owned 5,810 shares of the company’s stock, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the transaction, the chief financial officer owned 70,756 shares in the company, valued at $54,634,952.96. This represents a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 439,747 shares of company stock worth $349,271,735. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. Retirement Wealth Solutions LLC raised its holdings in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares in the last quarter. Signature Equity Partners LLC boosted its holdings in Seagate Technology by 383.3% in the third quarter. Signature Equity Partners LLC now owns 29 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Seagate Technology in the second quarter worth $39,000. One River Asset Management LLC increased its position in Seagate Technology by 50.0% during the third quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after buying an additional 15 shares during the last quarter. Finally, Creative Capital Management Investments LLC increased its position in Seagate Technology by 104.5% during the third quarter. Creative Capital Management Investments LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after buying an additional 23 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Down 3.1%

Shares of STX traded down $16.85 during trading hours on Friday, reaching $528.29. The company’s stock had a trading volume of 4,348,119 shares, compared to its average volume of 6,145,004. The company has a 50 day moving average of $740.61 and a two-hundred day moving average of $698.15. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.68. The firm has a market cap of $121.27 billion, a price-to-earnings ratio of 27.75 and a beta of 2.16. Seagate Technology has a 1-year low of $228.61 and a 1-year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the company posted $2.61 earnings per share. The firm’s quarterly revenue was up 61.0% compared to the same quarter last year. As a group, research analysts predict that Seagate Technology will post 37.96 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be paid a dividend of $0.76 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.6%. Seagate Technology’s dividend payout ratio (DPR) is 15.97%.

Seagate Technology Company Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers. The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.