Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) have been given a consensus rating of "Hold" by the twenty ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $115.94.

Several equities research analysts have recently weighed in on the stock. Loop Capital increased their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Morgan Stanley increased their target price on Seagate Technology from $115.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price target on Seagate Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, July 16th. TD Cowen raised their target price on Seagate Technology from $110.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Finally, Northland Securities upped their price target on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now owns 5,387 shares of the company's stock, valued at approximately $592,570. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares of the company's stock, valued at $291,567.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction 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 completion of the transaction, the executive vice president now owns 5,387 shares in the company, valued at approximately $592,570. The disclosure for this sale can be found here. Insiders sold a total of 56,627 shares of company stock worth $5,489,495 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in Seagate Technology in the second quarter valued at approximately $3,113,000. Cetera Investment Advisers raised its stake in shares of Seagate Technology by 10.9% in the 2nd quarter. Cetera Investment Advisers now owns 61,710 shares of the data storage provider's stock valued at $6,373,000 after acquiring an additional 6,067 shares during the period. SPC Financial Inc. lifted its holdings in shares of Seagate Technology by 3.9% during the 2nd quarter. SPC Financial Inc. now owns 5,350 shares of the data storage provider's stock valued at $552,000 after acquiring an additional 200 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in Seagate Technology during the 2nd quarter worth $1,241,000. Finally, Quarry LP acquired a new stake in Seagate Technology in the 2nd quarter valued at $27,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of STX traded up $0.75 during mid-day trading on Tuesday, reaching $106.63. The company's stock had a trading volume of 1,625,882 shares, compared to its average volume of 2,554,738. Seagate Technology has a 12-month low of $63.32 and a 12-month high of $113.57. The company's 50 day moving average is $101.09 and its 200 day moving average is $96.63. The stock has a market cap of $22.39 billion, a PE ratio of -81.83 and a beta of 1.03.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. Seagate Technology's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the business earned ($0.29) EPS. As a group, sell-side analysts anticipate that Seagate Technology will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.63%. Seagate Technology's dividend payout ratio is currently -217.05%.

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.