Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 18,730,000 shares, an increase of 16.5% from the February 13th total of 16,080,000 shares. Approximately 8.9% of the company's stock are short sold. Based on an average daily volume of 3,300,000 shares, the days-to-cover ratio is presently 5.7 days.
Seagate Technology Stock Performance
Shares of STX stock traded down $0.11 on Friday, hitting $88.27. 2,575,978 shares of the company's stock traded hands, compared to its average volume of 2,592,490. Seagate Technology has a one year low of $82.31 and a one year high of $115.32. The company's fifty day simple moving average is $96.32 and its 200 day simple moving average is $98.78. The stock has a market capitalization of $18.69 billion, a price-to-earnings ratio of 16.14 and a beta of 1.01.
Seagate Technology Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 3.26%. Seagate Technology's dividend payout ratio is 52.65%.
Analyst Ratings Changes
STX has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Northland Securities reiterated an "outperform" rating and issued a $160.00 target price (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Susquehanna boosted their target price on shares of Seagate Technology from $65.00 to $68.00 and gave the company a "negative" rating in a research note on Wednesday, January 22nd. Bank of America dropped their target price on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley dropped their price target on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.
Check Out Our Latest Report on STX
Institutional Investors Weigh In On Seagate Technology
Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new position in Seagate Technology during the 4th quarter valued at about $26,000. Elequin Capital LP bought a new stake in Seagate Technology during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new stake in Seagate Technology during the fourth quarter valued at approximately $27,000. Advisors Asset Management Inc. grew its position in Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock valued at $44,000 after buying an additional 258 shares during the period. Finally, JFS Wealth Advisors LLC lifted its holdings in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after purchasing an additional 113 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
Seagate Technology Company Profile
(
Get Free Report)
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.
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