Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been assigned an average rating of “Hold” from the nineteen analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $118.83.

STX has been the subject of a number of recent analyst reports. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Evercore ISI upped their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd.

Insider Activity at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the sale, the director now owns 6,555 shares of the company’s stock, valued at $667,430.10. This trade represents a 10.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the sale, the chief executive officer now directly owns 642,497 shares in the company, valued at approximately $63,947,726.41. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,304 shares of company stock valued at $5,656,238. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in shares of Seagate Technology by 74.2% in the 3rd quarter. Principal Financial Group Inc. now owns 354,013 shares of the data storage provider’s stock worth $38,775,000 after purchasing an additional 150,734 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Seagate Technology by 7.3% in the 3rd quarter. Retirement Systems of Alabama now owns 46,213 shares of the data storage provider’s stock worth $5,062,000 after purchasing an additional 3,135 shares during the period. Oddo BHF Asset Management Sas bought a new position in shares of Seagate Technology in the 3rd quarter worth approximately $7,112,000. Franklin Resources Inc. lifted its stake in shares of Seagate Technology by 29.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after purchasing an additional 405,232 shares during the period. Finally, Synovus Financial Corp raised its stake in Seagate Technology by 36.6% during the 3rd quarter. Synovus Financial Corp now owns 4,054 shares of the data storage provider’s stock worth $444,000 after acquiring an additional 1,087 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock opened at $86.31 on Thursday. Seagate Technology has a one year low of $79.39 and a one year high of $115.32. The stock has a market cap of $18.26 billion, a PE ratio of 22.54 and a beta of 1.03. The firm has a 50 day simple moving average of $97.12 and a two-hundred day simple moving average of $101.42.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company earned ($0.34) EPS. The firm’s revenue was up 49.1% on a year-over-year basis. On average, research analysts expect that Seagate Technology will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.34%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio is 75.20%.

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.