Seagate Technology (NASDAQ:STX) Price Target Cut to $95.00 by Analysts at Mizuho

Seagate Technology (NASDAQ:STX - Free Report) had its target price cut by Mizuho from $115.00 to $95.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the data storage provider's stock.

Several other analysts have also issued reports on STX. The Goldman Sachs Group reduced their target price on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. UBS Group upped their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. StockNews.com cut shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Morgan Stanley cut their target price on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company 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 given a buy rating to the stock. According to MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and an average price target of $118.78.

Remove Ads

Seagate Technology Stock Performance

Shares of NASDAQ STX traded up $2.52 during midday trading on Thursday, reaching $72.67. The company's stock had a trading volume of 3,436,198 shares, compared to its average volume of 2,771,095. The company has a market cap of $15.38 billion, a P/E ratio of 13.29 and a beta of 1.21. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $115.32. The business's 50 day moving average price is $89.19 and its two-hundred day moving average price is $95.75.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Wednesday, March 19th. Seagate Technology's dividend payout ratio is 52.65%.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at $46,988,047.12. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Berkshire Bank increased its stake in shares of Seagate Technology by 2.6% during the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider's stock worth $355,000 after purchasing an additional 103 shares during the last quarter. MWA Asset Management increased its position in Seagate Technology by 0.5% in the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider's stock worth $1,695,000 after buying an additional 104 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of Seagate Technology by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after buying an additional 112 shares during the period. JFS Wealth Advisors LLC lifted its position in shares of Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after buying an additional 113 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Seagate Technology by 2.3% during the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock worth $431,000 after acquiring an additional 113 shares during the period. Institutional investors 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.