Analysts Set Seagate Technology Holdings plc (NASDAQ:STX) PT at $98.29

Seagate Technology Holdings plc (NASDAQ:STXGet Free Report) has earned a consensus rating of “Hold” from the nineteen brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $98.29.

Several research analysts have issued reports on STX shares. Bank of America restated a “buy” rating and issued a $110.00 price target on shares of Seagate Technology in a research report on Wednesday, June 5th. UBS Group lifted their price target on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Citigroup initiated coverage on shares of Seagate Technology in a research report on Tuesday, May 14th. They issued a “buy” rating and a $110.00 price target on the stock. Barclays lowered their price objective on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Finally, Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th.

Read Our Latest Stock Report on STX

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Christopher Morris sold 5,928 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the completion of the sale, the senior vice president now owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The disclosure for this sale can be found here. Insiders sold 37,531 shares of company stock worth $3,592,946 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund raised its position in shares of Seagate Technology by 68.8% in the fourth quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock valued at $12,212,000 after purchasing an additional 58,300 shares during the period. JPMorgan Chase & Co. raised its position in shares of Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after purchasing an additional 1,485,937 shares during the period. Stratos Wealth Partners LTD. increased its position in Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after acquiring an additional 561 shares during the period. Baader Bank Aktiengesellschaft bought a new position in Seagate Technology during the fourth quarter worth $230,000. Finally, The Manufacturers Life Insurance Company increased its position in Seagate Technology by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock worth $11,620,000 after acquiring an additional 1,419 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

NASDAQ STX opened at $102.62 on Friday. Seagate Technology has a 12 month low of $57.32 and a 12 month high of $107.91. The firm has a market capitalization of $21.55 billion, a PE ratio of -79.55 and a beta of 1.03. The company’s 50 day simple moving average is $93.07 and its 200 day simple moving average is $89.15.

Seagate Technology (NASDAQ:STXGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. Seagate Technology’s revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.43) EPS. Sell-side analysts anticipate that Seagate Technology will post 0.44 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.

About Seagate Technology

(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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Analyst Recommendations for Seagate Technology (NASDAQ:STX)

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