Seagate Technology (NASDAQ:STX) Sets New 12-Month Low at $59.58

Seagate Technology Holdings plc (NASDAQ:STXGet Rating)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $59.58 and last traded at $59.58, with a volume of 5665 shares traded. The stock had previously closed at $62.02.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Benchmark downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Northland Securities lowered their price objective on shares of Seagate Technology from $105.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, September 1st. Bank of America lowered their price objective on shares of Seagate Technology from $110.00 to $93.00 and set a “buy” rating on the stock in a research report on Thursday, September 1st. Wedbush lowered their target price on shares of Seagate Technology from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, September 7th. Finally, Summit Insights downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.48.

Seagate Technology Trading Down 0.7 %

The company has a debt-to-equity ratio of 46.44, a current ratio of 1.13 and a quick ratio of 0.69. The company has a market cap of $12.31 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 10.36 and a beta of 1.11. The business’s 50-day simple moving average is $74.25 and its 200-day simple moving average is $79.71.

Seagate Technology (NASDAQ:STXGet Rating) last announced its earnings results on Thursday, July 21st. The data storage provider reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.33). The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.80 billion. Seagate Technology had a return on equity of 412.90% and a net margin of 14.14%. During the same quarter in the previous year, the firm posted $1.92 EPS. Research analysts predict that Seagate Technology Holdings plc will post 4.95 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Tuesday, September 20th. Seagate Technology’s payout ratio is currently 38.15%.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Tyler Stone Wealth Management acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $28,000. Oakworth Capital Inc. acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $29,000. Hallmark Capital Management Inc. acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $32,000. Chilton Capital Management LLC acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $33,000. Finally, Ronald Blue Trust Inc. acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Seagate Technology Company Profile

(Get Rating)

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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