Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $121.00.

Several equities research analysts recently weighed in on the stock. Benchmark raised shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 target price on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. StockNews.com cut Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Northland Securities reaffirmed an "outperform" rating and issued a $160.00 price target (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, Susquehanna boosted their price objective on Seagate Technology from $65.00 to $68.00 and gave the stock a "negative" rating in a research report on Wednesday, January 22nd.

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Seagate Technology Trading Down 0.1 %

STX traded down $0.10 during mid-day trading on Tuesday, hitting $88.28. 1,354,556 shares of the stock were exchanged, compared to its average volume of 2,592,633. The company has a market cap of $18.69 billion, a PE ratio of 16.17 and a beta of 1.01. The firm's fifty day moving average is $96.33 and its two-hundred day moving average is $98.84. Seagate Technology has a 1-year low of $82.31 and a 1-year high of $115.32.

Seagate Technology Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.26%. Seagate Technology's payout ratio is 52.65%.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in Seagate Technology by 14.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,511 shares of the data storage provider's stock worth $1,252,000 after buying an additional 1,832 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Seagate Technology in the 4th quarter worth approximately $6,090,000. Siemens Fonds Invest GmbH increased its stake in Seagate Technology by 116.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,392 shares of the data storage provider's stock valued at $379,000 after purchasing an additional 2,367 shares in the last quarter. Menard Financial Group LLC acquired a new position in Seagate Technology during the fourth quarter worth $50,000. Finally, B. Riley Wealth Advisors Inc. boosted its position in Seagate Technology by 0.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock worth $1,327,000 after purchasing an additional 134 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.