Seagate Technology (NASDAQ:STX) Reaches New 1-Year Low - Should You Sell?

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $63.19 and last traded at $64.16, with a volume of 2340385 shares. The stock had previously closed at $66.54.

Analyst Upgrades and Downgrades

STX has been the subject of several recent research reports. Summit Insights raised 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 research report on Wednesday, January 22nd. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Citigroup cut their price target on Seagate Technology from $115.00 to $90.00 and set a "buy" rating for the company in a research note on Monday. Finally, Mizuho lowered their price objective on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.78.

Seagate Technology Stock Performance

The stock has a market cap of $15.38 billion, a P/E ratio of 13.29 and a beta of 1.21. The stock's fifty day moving average is $89.19 and its 200 day moving average is $95.75.

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Seagate Technology Announces Dividend

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

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the transaction, the chief executive officer now owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.81% of the company's stock.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of STX. Capital Research Global Investors lifted its holdings in Seagate Technology by 56.5% during the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after buying an additional 5,640,443 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after purchasing an additional 1,814,821 shares during the period. Marshall Wace LLP bought a new position in Seagate Technology in the fourth quarter worth approximately $77,341,000. Junto Capital Management LP purchased a new position in Seagate Technology during the 4th quarter worth $60,303,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Seagate Technology by 2,853.4% in the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock worth $57,925,000 after buying an additional 648,257 shares during the period. Hedge funds and other 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.