Analysts Set Seagate Technology Holdings plc (NASDAQ:STX) Price Target at $121.56

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $121.00.

STX has been the subject of several research analyst reports. Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Wednesday, January 22nd. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. Rosenblatt Securities increased their price target on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Mizuho lowered their price objective on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Citigroup cut their target price on shares of Seagate Technology from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th.

Seagate Technology Stock Performance

STX opened at $88.79 on Tuesday. The firm has a market cap of $18.80 billion, a P/E ratio of 16.23 and a beta of 1.01. Seagate Technology has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The firm has a 50-day moving average of $96.32 and a 200 day moving average of $98.68.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is currently 52.65%.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Seagate Technology by 14.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,511 shares of the data storage provider’s stock worth $1,252,000 after acquiring an additional 1,832 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in Seagate Technology in the fourth quarter worth $6,090,000. Siemens Fonds Invest GmbH grew its stake in shares of Seagate Technology by 116.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,392 shares of the data storage provider’s stock valued at $379,000 after buying an additional 2,367 shares during the last quarter. Menard Financial Group LLC purchased a new position in shares of Seagate Technology in the fourth quarter worth about $50,000. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of Seagate Technology by 0.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider’s stock valued at $1,327,000 after acquiring an additional 134 shares during the last quarter. 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.