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

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) has been assigned an average recommendation of "Hold" from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $118.83.

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Citigroup boosted their price target on Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Wedbush reiterated an "outperform" rating and set a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Benchmark restated a "hold" rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Rosenblatt Securities raised their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded up $0.33 during trading hours on Friday, hitting $98.51. The company's stock had a trading volume of 2,720,247 shares, compared to its average volume of 2,091,385. The company has a market capitalization of $20.84 billion, a PE ratio of 25.72 and a beta of 1.03. The stock has a 50 day moving average of $103.64 and a 200 day moving average of $102.08. Seagate Technology has a 12 month low of $78.10 and a 12 month high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the business earned ($0.34) EPS. Seagate Technology's revenue for the quarter was up 49.1% compared to the same quarter last year. Equities analysts expect that Seagate Technology will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a $0.72 dividend. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 2.92%. Seagate Technology's dividend payout ratio is currently 75.20%.

Insider Buying and Selling

In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares of the company's stock, valued at $804,672.90. This represents a 13.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the sale, the chief executive officer now owns 668,616 shares of the company's stock, valued at approximately $73,668,110.88. This represents a 17.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,820 shares of company stock valued at $23,953,746. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sanders Capital LLC grew its position in Seagate Technology by 0.9% during the third 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. State Street Corp grew its holdings in shares of Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock worth $937,081,000 after purchasing an additional 541,585 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Seagate Technology by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock worth $454,477,000 after purchasing an additional 318,416 shares during the period. Franklin Resources Inc. raised its stake in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock valued at $197,844,000 after purchasing an additional 405,232 shares in the last quarter. Finally, Duquesne Family Office LLC lifted its position in Seagate Technology by 22.0% during the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider's stock worth $181,268,000 after purchasing an additional 316,295 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

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.