Northland Securities Trims Seagate Technology (NASDAQ:STX) Target Price to $105.00

Seagate Technology (NASDAQ:STXGet Rating) had its price objective trimmed by Northland Securities from $113.00 to $105.00 in a report published on Friday morning, The Fly reports.

A number of other analysts also recently issued reports on STX. Susquehanna Bancshares raised their price objective on Seagate Technology from $65.00 to $67.00 in a research report on Thursday, April 28th. Mizuho cut their price objective on Seagate Technology from $95.00 to $83.00 and set a neutral rating for the company in a research report on Friday. Barclays cut their price objective on Seagate Technology from $85.00 to $70.00 and set an equal weight rating for the company in a research report on Tuesday, June 21st. Summit Insights downgraded Seagate Technology from a buy rating to a hold rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Seagate Technology from $82.00 to $75.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $89.85.

Seagate Technology Stock Performance

NASDAQ STX opened at $76.83 on Friday. The stock’s fifty day moving average is $78.10 and its two-hundred day moving average is $89.37. The company has a debt-to-equity ratio of 13.33, a quick ratio of 0.96 and a current ratio of 1.48. The firm has a market capitalization of $16.51 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 7.07 and a beta of 1.05. Seagate Technology has a fifty-two week low of $67.36 and a fifty-two week high of $117.67.

Seagate Technology (NASDAQ:STXGet Rating) last posted its earnings results on Thursday, July 21st. The data storage provider reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.17). Seagate Technology had a net margin of 14.14% and a return on equity of 331.48%. During the same quarter last year, the business earned $1.92 earnings per share. On average, research analysts anticipate that Seagate Technology will post 8.98 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, September 20th. Seagate Technology’s dividend payout ratio (DPR) is 38.15%.

Hedge Funds Weigh In On Seagate Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sara Bay Financial boosted its holdings in Seagate Technology by 9.0% in the first quarter. Sara Bay Financial now owns 13,572 shares of the data storage provider’s stock valued at $1,220,000 after purchasing an additional 1,126 shares in the last quarter. Atria Investments LLC acquired a new position in Seagate Technology in the fourth quarter valued at approximately $1,220,000. New York State Teachers Retirement System boosted its holdings in Seagate Technology by 0.6% in the first quarter. New York State Teachers Retirement System now owns 245,646 shares of the data storage provider’s stock valued at $22,084,000 after purchasing an additional 1,429 shares in the last quarter. Laurel Wealth Advisors Inc. acquired a new position in Seagate Technology in the fourth quarter valued at approximately $565,000. Finally, Stiles Financial Services Inc acquired a new position in Seagate Technology in the fourth quarter valued at approximately $1,741,000. 87.48% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Company Profile

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Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

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