Seagate Technology (NASDAQ:STX) Price Target Increased to $144.00 by Analysts at Northland Securities

Seagate Technology (NASDAQ:STX - Free Report) had its price target raised by Northland Securities from $142.00 to $144.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the data storage provider's stock.

A number of other brokerages have also recently commented on STX. Evercore ISI boosted their price target on Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday. Rosenblatt Securities boosted their price target on Seagate Technology from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday. Robert W. Baird boosted their price target on Seagate Technology from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Cantor Fitzgerald boosted their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 24th. Finally, TD Cowen boosted their price target on Seagate Technology from $110.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $118.83.

Seagate Technology Trading Down 8.1 %

Seagate Technology stock traded down $9.12 during trading hours on Wednesday, hitting $103.52. 8,771,794 shares of the stock traded hands, compared to its average volume of 2,517,590. The firm's 50-day moving average price is $105.04 and its two-hundred day moving average price is $99.55. The company has a market cap of $21.79 billion, a PE ratio of 67.22 and a beta of 1.04. Seagate Technology has a one year low of $64.12 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.13 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business's revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) EPS. On average, sell-side analysts expect that Seagate Technology will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.78%. Seagate Technology's payout ratio is currently 181.82%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the sale, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP John Christopher Morris sold 1,131 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at $804,672.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares of the company's stock, valued at $61,148,074.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,298 shares of company stock worth $22,814,576. Insiders own 0.81% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Seagate Technology in the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock worth $36,000 after buying an additional 337 shares in the last quarter. Family Firm Inc. purchased a new stake in Seagate Technology in the 2nd quarter worth $41,000. Larson Financial Group LLC increased its stake in Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider's stock worth $49,000 after buying an additional 473 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in Seagate Technology in the 3rd quarter worth $55,000. 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.