Seagate Technology Holdings PLC (NASDAQ:STX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) have earned a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eighteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $293.1304.

STX has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Loop Capital boosted their target price on shares of Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a report on Monday, November 10th. Robert W. Baird upped their price target on shares of Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Mizuho increased their price target on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Wedbush lifted their price objective on Seagate Technology from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th.

Insider Activity

In related news, CFO Gianluca Romano sold 54,021 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the transaction, the chief financial officer owned 56,293 shares in the company, valued at $16,052,511.88. The trade was a 48.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the transaction, the director directly owned 12,244 shares in the company, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 131,145 shares of company stock worth $36,425,168. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sovereign Financial Group Inc. boosted its position in shares of Seagate Technology by 3.2% during the 4th quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock worth $293,000 after purchasing an additional 33 shares in the last quarter. West Family Investments Inc. boosted its holdings in Seagate Technology by 2.7% in the third quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock worth $337,000 after acquiring an additional 37 shares in the last quarter. United Community Bank boosted its holdings in Seagate Technology by 35.2% in the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 45 shares during the period. Finally, Sivia Capital Partners LLC increased its holdings in shares of Seagate Technology by 2.6% during the third quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock valued at $440,000 after acquiring an additional 47 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Price Performance

Shares of STX stock opened at $304.01 on Monday. The stock has a market capitalization of $64.92 billion, a PE ratio of 39.03, a PEG ratio of 1.19 and a beta of 1.60. The business’s 50 day simple moving average is $278.12 and its 200 day simple moving average is $217.71. Seagate Technology has a one year low of $63.19 and a one year high of $332.00.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.0%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Wednesday, December 24th. Seagate Technology’s payout ratio is presently 38.00%.

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.