Seagate Technology Holdings plc (NASDAQ:STX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STXGet Rating) have earned a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $100.32.

STX has been the topic of a number of research reports. Mizuho lowered their price target on Seagate Technology from $105.00 to $95.00 in a report on Thursday, April 28th. Susquehanna raised their price target on Seagate Technology from $65.00 to $67.00 in a report on Thursday, April 28th. Northland Securities lowered their price target on Seagate Technology from $122.00 to $113.00 and set an “outperform” rating on the stock in a report on Tuesday, March 22nd. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, April 7th. Finally, Barclays dropped their price objective on shares of Seagate Technology from $85.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday.

A number of hedge funds have recently modified their holdings of the business. Atria Investments LLC acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $1,220,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Seagate Technology by 9.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,563 shares of the data storage provider’s stock valued at $2,888,000 after purchasing an additional 2,120 shares in the last quarter. Laurel Wealth Advisors Inc. acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $565,000. Stiles Financial Services Inc bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $1,741,000. Finally, National Bank of Canada FI bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $3,715,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

NASDAQ:STX opened at $72.70 on Wednesday. The business’s fifty day moving average price is $81.58 and its 200 day moving average price is $95.04. The firm has a market capitalization of $15.62 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 7.62 and a beta of 1.00. Seagate Technology has a 12 month low of $70.11 and a 12 month high of $117.67. The company has a debt-to-equity ratio of 13.33, a current ratio of 1.48 and a quick ratio of 0.96.

Seagate Technology (NASDAQ:STXGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The data storage provider reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.03). The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Seagate Technology had a return on equity of 339.73% and a net margin of 15.40%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 EPS. As a group, equities analysts anticipate that Seagate Technology will post 7.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 7th. Shareholders of record on Friday, June 24th will be issued a $0.70 dividend. The ex-dividend date is Thursday, June 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.85%. Seagate Technology’s dividend payout ratio is currently 34.40%.

About Seagate Technology (Get Rating)

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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