Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have received a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $118.83.

STX has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup boosted their price target on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Northland Securities lifted their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd.

Seagate Technology Trading Down 1.0 %

Shares of STX stock opened at $88.69 on Thursday. Seagate Technology has a 12-month low of $79.39 and a 12-month high of $115.32. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 23.16 and a beta of 1.06. The stock has a 50 day simple moving average of $96.01 and a 200-day simple moving average of $100.94.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.34) earnings per share. On average, equities analysts forecast that Seagate Technology will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Sunday, December 15th were paid a dividend of $0.72 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 3.25%. Seagate Technology’s dividend payout ratio is presently 75.20%.

Insider Buying and Selling

In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at $804,672.90. This represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,304 shares of company stock worth $5,656,238. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in Seagate Technology by 2.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,871 shares of the data storage provider’s stock worth $1,019,000 after purchasing an additional 270 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $271,000. Commonwealth Equity Services LLC lifted its holdings in shares of Seagate Technology by 5.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 88,077 shares of the data storage provider’s stock valued at $9,096,000 after acquiring an additional 4,357 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Seagate Technology by 8.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,704 shares of the data storage provider’s stock worth $482,000 after purchasing an additional 374 shares during the period. Finally, Natixis Advisors LLC increased its holdings in Seagate Technology by 13.4% in the 2nd quarter. Natixis Advisors LLC now owns 66,023 shares of the data storage provider’s stock valued at $6,818,000 after purchasing an additional 7,777 shares in the last quarter. Institutional investors and hedge funds 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.