Seagate Technology (NASDAQ:STX) Price Target Lowered to $80.00 at Barclays

Seagate Technology (NASDAQ:STX) had its target price cut by Barclays from $85.00 to $80.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an equal weight rating on the data storage provider’s stock.

A number of other research analysts have also recently weighed in on STX. Susquehanna lifted their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the company a negative rating in a research report on Wednesday, April 10th. Wedbush reissued a neutral rating and set a $100.00 target price on shares of Seagate Technology in a research report on Thursday, January 25th. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a buy rating in a research report on Thursday, January 25th. BNP Paribas cut shares of Seagate Technology from a neutral rating to an underperform rating and set a $65.00 target price on the stock. in a research report on Thursday, January 11th. Finally, TD Cowen boosted their target price on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $91.73.

Seagate Technology Stock Up 3.3 %

Shares of STX stock opened at $85.18 on Monday. The stock has a market cap of $17.85 billion, a price-to-earnings ratio of -24.34, a price-to-earnings-growth ratio of 681.49 and a beta of 1.04. Seagate Technology has a fifty-two week low of $54.47 and a fifty-two week high of $101.26. The firm’s 50 day moving average price is $89.31 and its two-hundred day moving average price is $82.47.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.19. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. On average, equities analysts forecast that Seagate Technology will post 0.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, March 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.29%. Seagate Technology’s dividend payout ratio is currently -80.00%.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after acquiring an additional 1,485,937 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Seagate Technology by 8.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after purchasing an additional 561 shares during the period. Gotham Asset Management LLC lifted its holdings in Seagate Technology by 51.1% in the third quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock worth $5,717,000 after purchasing an additional 29,323 shares during the period. SG Americas Securities LLC lifted its holdings in Seagate Technology by 78.4% in the fourth quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock worth $3,292,000 after purchasing an additional 16,950 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Seagate Technology by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 13,293 shares of the data storage provider’s stock worth $1,144,000 after purchasing an additional 630 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.