Seagate Technology Holdings plc (NASDAQ:STX) Receives Average Rating of “Hold” from Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have earned an average recommendation of “Hold” from the twenty analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $115.94.

Several equities research analysts have weighed in on STX shares. Bank of America reaffirmed a “buy” rating and issued a $110.00 price target on shares of Seagate Technology in a research note on Wednesday, June 5th. Northland Securities lifted their price target on shares of Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital lifted their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th.

Seagate Technology Trading Down 1.8 %

NASDAQ STX opened at $108.74 on Tuesday. The firm has a market capitalization of $22.89 billion, a price-to-earnings ratio of -84.29 and a beta of 1.03. The firm’s 50 day simple moving average is $101.37 and its 200 day simple moving average is $97.02. Seagate Technology has a 1 year low of $63.88 and a 1 year high of $113.57.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business earned ($0.29) earnings per share. Seagate Technology’s revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts forecast that Seagate Technology will post 6.72 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s payout ratio is -217.05%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the sale, the executive vice president now directly owns 5,387 shares in the company, valued at approximately $592,570. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the sale, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. The disclosure for this sale can be found here. Insiders have sold a total of 203,284 shares of company stock worth $21,647,287 over the last three months. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

A number of institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in Seagate Technology during the 2nd quarter worth approximately $3,113,000. Cetera Investment Advisers increased its holdings in Seagate Technology by 10.9% during the 2nd quarter. Cetera Investment Advisers now owns 61,710 shares of the data storage provider’s stock worth $6,373,000 after acquiring an additional 6,067 shares during the period. SPC Financial Inc. increased its holdings in Seagate Technology by 3.9% during the 2nd quarter. SPC Financial Inc. now owns 5,350 shares of the data storage provider’s stock worth $552,000 after acquiring an additional 200 shares during the period. Kimelman & Baird LLC bought a new stake in Seagate Technology during the 2nd quarter worth approximately $1,241,000. Finally, Quarry LP bought a new stake in Seagate Technology during the 2nd quarter worth approximately $27,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

About Seagate Technology

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.