Seagate Technology Holdings plc (NASDAQ:STX) Receives $122.56 Average PT from Analysts

Seagate Technology Holdings plc (NASDAQ:STX) has earned an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $122.56.

STX has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd.

Seagate Technology Price Performance

Shares of STX opened at $100.67 on Friday. Seagate Technology has a 1-year low of $82.31 and a 1-year high of $115.32. The stock has a market cap of $21.31 billion, a PE ratio of 18.40 and a beta of 1.07. The firm has a fifty day moving average price of $95.39 and a 200 day moving average price of $99.95.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.86%. Seagate Technology’s dividend payout ratio is currently 52.65%.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the transaction, the chief executive officer now directly owns 622,497 shares in the company, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now owns 6,555 shares in the company, valued at $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,891 shares of company stock valued at $2,146,848 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. Blue Trust Inc. grew its position in shares of Seagate Technology by 47.9% in the third quarter. Blue Trust Inc. now owns 2,385 shares of the data storage provider’s stock valued at $246,000 after purchasing an additional 772 shares during the last quarter. Raymond James & Associates grew its position in shares of Seagate Technology by 2.4% in the third quarter. Raymond James & Associates now owns 227,667 shares of the data storage provider’s stock valued at $24,936,000 after purchasing an additional 5,385 shares during the last quarter. Foundations Investment Advisors LLC grew its position in shares of Seagate Technology by 10.2% in the third quarter. Foundations Investment Advisors LLC now owns 2,299 shares of the data storage provider’s stock valued at $252,000 after purchasing an additional 213 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Seagate Technology by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after purchasing an additional 89 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Seagate Technology by 14.0% in the third quarter. Signaturefd LLC now owns 4,875 shares of the data storage provider’s stock valued at $534,000 after purchasing an additional 600 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.