Seagate Technology Holdings plc (NASDAQ:STX) Given Average Rating of "Hold" by Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nineteen research firms that are covering the stock, Marketbeat Ratings reports. Two equities research 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 12 month price objective among brokerages that have covered the stock in the last year is $118.83.

Several research firms have commented on STX. Citigroup upped their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Rosenblatt Securities increased their price target on Seagate Technology from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wedbush restated an "outperform" rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd.

Insider Transactions at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the sale, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This represents a 13.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction that occurred 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 directly owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,304 shares of company stock valued at $5,656,238. 0.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its position in shares of Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider's stock worth $281,000 after acquiring an additional 89 shares during the last quarter. Affinity Capital Advisors LLC grew its position in Seagate Technology by 1.5% in the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider's stock worth $725,000 after purchasing an additional 100 shares during the last quarter. Pinnacle West Asset Management Inc. increased its stake in shares of Seagate Technology by 2.5% in the second quarter. Pinnacle West Asset Management Inc. now owns 5,190 shares of the data storage provider's stock valued at $536,000 after purchasing an additional 125 shares during the period. Ballentine Partners LLC raised its holdings in shares of Seagate Technology by 3.6% during the third quarter. Ballentine Partners LLC now owns 3,671 shares of the data storage provider's stock valued at $402,000 after buying an additional 129 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Seagate Technology by 0.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 28,646 shares of the data storage provider's stock worth $2,958,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded up $0.08 during trading hours on Thursday, hitting $86.39. The company had a trading volume of 2,046,534 shares, compared to its average volume of 2,504,455. The company's 50-day moving average is $96.76 and its two-hundred day moving average is $101.32. The company has a market cap of $18.27 billion, a P/E ratio of 22.56 and a beta of 1.03. Seagate Technology has a twelve month low of $79.39 and a twelve 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 for the quarter, beating the consensus estimate of $1.30 by $0.28. The business 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 period in the previous year, the business earned ($0.34) EPS. Sell-side analysts expect that Seagate Technology will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a $0.72 dividend. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology's dividend payout ratio is presently 75.20%.

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.