Weekly Investment Analysts’ Ratings Updates for Seagate Technology (STX)

Several analysts have recently updated their ratings and price targets for Seagate Technology (NASDAQ: STX):

  • 4/25/2022 – Seagate Technology had its price target lowered by analysts at Barclays PLC from $100.00 to $85.00. They now have an “equal weight” rating on the stock.
  • 4/25/2022 – Seagate Technology had its price target lowered by analysts at Wedbush from $95.00 to $85.00.
  • 4/19/2022 – Seagate Technology had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $110.00 to $95.00. They now have a “hold” rating on the stock.
  • 4/19/2022 – Seagate Technology had its price target lowered by analysts at Wells Fargo & Company from $110.00 to $90.00. They now have an “equal weight” rating on the stock.
  • 4/7/2022 – Seagate Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 3/31/2022 – Seagate Technology had its price target lowered by analysts at Morgan Stanley from $101.00 to $99.00. They now have an “equal weight” rating on the stock.
  • 3/30/2022 – Seagate Technology was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 3/23/2022 – Seagate Technology had its price target lowered by analysts at Mizuho from $110.00 to $105.00. They now have a “neutral” rating on the stock.
  • 3/22/2022 – Seagate Technology had its price target lowered by analysts at Northland Securities from $122.00 to $113.00. They now have an “outperform” rating on the stock.
  • 3/16/2022 – Seagate Technology had its price target lowered by analysts at Robert W. Baird from $120.00 to $100.00.
  • 3/4/2022 – Seagate Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Shares of Seagate Technology stock opened at $82.54 on Tuesday. The firm has a market capitalization of $18.07 billion, a PE ratio of 10.36, a P/E/G ratio of 8.60 and a beta of 1.00. Seagate Technology Holdings plc has a twelve month low of $78.20 and a twelve month high of $117.67. The firm’s 50-day moving average price is $93.06 and its 200 day moving average price is $98.85. The company has a current ratio of 1.49, a quick ratio of 1.06 and a debt-to-equity ratio of 10.70.

Seagate Technology (NASDAQ:STXGet Rating) last released its earnings results on Wednesday, January 26th. The data storage provider reported $2.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.07. Seagate Technology had a net margin of 15.35% and a return on equity of 322.33%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company posted $1.17 EPS. The business’s revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 8.09 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 6th. Stockholders of record on Tuesday, March 22nd were issued a dividend of $0.70 per share. The ex-dividend date was Monday, March 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.39%. Seagate Technology’s dividend payout ratio is currently 35.13%.

In other news, Director Holdings L.P. Valueact sold 1,750,000 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen J. Luczo sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $103.26, for a total transaction of $5,163,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,076,597 shares of company stock valued at $224,036,049 in the last 90 days. Insiders own 0.81% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Gateway Advisory LLC boosted its position in Seagate Technology by 2.6% in the 4th quarter. Gateway Advisory LLC now owns 3,588 shares of the data storage provider’s stock valued at $405,000 after buying an additional 92 shares during the period. Checchi Capital Advisers LLC boosted its position in Seagate Technology by 2.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,845 shares of the data storage provider’s stock valued at $434,000 after buying an additional 94 shares during the period. Marcum Wealth LLC boosted its position in Seagate Technology by 3.7% in the 3rd quarter. Marcum Wealth LLC now owns 2,919 shares of the data storage provider’s stock valued at $241,000 after buying an additional 104 shares during the period. Old North State Trust LLC lifted its position in shares of Seagate Technology by 43.0% during the 4th quarter. Old North State Trust LLC now owns 426 shares of the data storage provider’s stock worth $48,000 after purchasing an additional 128 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its position in shares of Seagate Technology by 41.1% during the 4th quarter. Carroll Financial Associates Inc. now owns 446 shares of the data storage provider’s stock worth $50,000 after purchasing an additional 130 shares during the last quarter. 81.67% of the stock is owned by institutional investors.

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

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