Seagate Technology Holdings plc (NASDAQ:STX) Receives $108.35 Consensus PT from Analysts

Shares of Seagate Technology Holdings plc (NASDAQ:STXGet Rating) have received an average recommendation of “Buy” from the twenty-six brokerages that are currently covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $108.35.

A number of research firms have weighed in on STX. Susquehanna restated a “hold” rating and set a $93.00 price objective on shares of Seagate Technology in a research note on Tuesday, January 25th. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, January 27th. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, April 7th. Robert W. Baird reduced their price objective on shares of Seagate Technology from $120.00 to $100.00 in a research note on Wednesday, March 16th. Finally, Wedbush raised their price objective on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, January 27th.

NASDAQ STX traded up $0.77 during trading hours on Friday, reaching $83.92. 47,381 shares of the company’s stock traded hands, compared to its average volume of 2,113,555. Seagate Technology has a 52-week low of $78.20 and a 52-week high of $117.67. The firm has a market cap of $18.37 billion, a PE ratio of 10.43, a PEG ratio of 8.63 and a beta of 1.00. The firm has a 50-day simple moving average of $97.77 and a 200 day simple moving average of $98.75. The company has a debt-to-equity ratio of 10.70, a current ratio of 1.49 and a quick ratio of 1.06.

Seagate Technology (NASDAQ:STXGet Rating) last issued its quarterly earnings results on Wednesday, January 26th. The data storage provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.07. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Seagate Technology had a net margin of 15.35% and a return on equity of 322.33%. Seagate Technology’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. Sell-side analysts forecast that Seagate Technology will post 8.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 6th. Investors of record on Tuesday, March 22nd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Monday, March 21st. Seagate Technology’s payout ratio is 35.13%.

In other Seagate Technology news, Director Stephen J. Luczo sold 50,000 shares of Seagate Technology stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $103.26, for a total transaction of $5,163,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Holdings L.P. Valueact sold 1,750,000 shares of Seagate Technology stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $108.00, for a total transaction of $189,000,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,076,597 shares of company stock worth $224,036,049. 0.81% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Sanders Capital LLC lifted its holdings in shares of Seagate Technology by 325.4% in the fourth quarter. Sanders Capital LLC now owns 3,998,452 shares of the data storage provider’s stock worth $501,232,000 after buying an additional 3,058,553 shares in the last quarter. Norges Bank purchased a new position in shares of Seagate Technology in the fourth quarter worth $221,348,000. UBS Asset Management Americas Inc. purchased a new position in shares of Seagate Technology in the third quarter worth $100,479,000. Renaissance Technologies LLC purchased a new position in shares of Seagate Technology in the fourth quarter worth $108,404,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Seagate Technology in the third quarter worth $59,177,000. 81.67% of the stock is currently owned by institutional investors and hedge funds.

About Seagate Technology (Get Rating)

Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.

Recommended Stories

Analyst Recommendations for Seagate Technology (NASDAQ:STX)

Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.