Analysts Set Seagate Technology Holdings plc (NASDAQ:STX) Target Price at $118.83

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) has been given a consensus rating of "Hold" by the nineteen research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $118.83.

A number of analysts have weighed in on STX shares. TD Cowen boosted their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Loop Capital boosted their price objective on Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Wedbush reissued an "outperform" rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Evercore ISI upped their price objective on Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird raised their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded down $1.22 during trading on Wednesday, reaching $98.58. 906,812 shares of the company's stock were exchanged, compared to its average volume of 2,488,554. Seagate Technology has a 1-year low of $73.20 and a 1-year high of $115.32. The company has a market cap of $20.85 billion, a P/E ratio of 26.06 and a beta of 1.05. The firm's 50-day moving average price is $105.16 and its 200 day moving average price is $101.20.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business's quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. As a group, equities research analysts predict that Seagate Technology will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th 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 2.92%. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology's dividend payout ratio is presently 73.11%.

Insider Activity

In other news, CEO William D. Mosley sold 141,785 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the transaction, the chief executive officer now owns 668,616 shares in the company, valued at approximately $73,668,110.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Yolanda Lee Conyers sold 750 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 3,034 shares of the company's stock, valued at $291,567.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William D. Mosley sold 141,785 shares of the firm's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,820 shares of company stock worth $21,892,856 in the last quarter. 0.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanders Capital LLC lifted its position in shares of Seagate Technology by 0.9% during the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider's stock worth $1,792,742,000 after buying an additional 150,115 shares in the last quarter. Brooklyn Investment Group purchased a new position in Seagate Technology in the third quarter worth $56,000. Quantbot Technologies LP bought a new position in Seagate Technology in the 3rd quarter valued at $3,799,000. West Tower Group LLC purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at $110,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Seagate Technology by 4.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 126,374 shares of the data storage provider's stock worth $13,842,000 after purchasing an additional 5,246 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.