Brokerages Set Seagate Technology Holdings plc (NASDAQ:STX) Price Target at $122.56

Shares of Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nineteen analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $122.56.

STX has been the topic of a number of research reports. Mizuho reduced their target price on shares of Seagate Technology from $130.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Morgan Stanley reduced their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their price objective on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Citigroup boosted their target price on Seagate Technology from $120.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Wednesday, February 5th.

Seagate Technology Stock Down 1.7 %

Shares of STX traded down $1.79 during trading on Friday, reaching $100.85. 2,484,241 shares of the company traded hands, compared to its average volume of 3,178,739. The stock has a market cap of $21.35 billion, a PE ratio of 18.44 and a beta of 1.07. Seagate Technology has a twelve month low of $82.31 and a twelve month high of $115.32. The stock has a 50-day simple moving average of $95.02 and a 200-day simple moving average of $99.80.

Seagate Technology Announces Dividend

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

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the completion of the transaction, the chief executive officer now directly owns 622,497 shares in the company, valued at $64,011,366.51. The trade was a 3.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the sale, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,891 shares of company stock valued at $2,146,848. Corporate insiders own 0.81% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider's stock valued at $18,834,000 after purchasing an additional 98,418 shares during the last quarter. Versor Investments LP acquired a new position in shares of Seagate Technology in the third quarter valued at approximately $2,146,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Seagate Technology by 9.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider's stock valued at $4,215,000 after buying an additional 4,229 shares during the period. Forte Capital LLC ADV boosted its position in Seagate Technology by 29.8% during the third quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider's stock worth $3,173,000 after acquiring an additional 6,653 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Seagate Technology by 3,549.7% in the 3rd quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider's stock worth $22,398,000 after acquiring an additional 198,890 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

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.