Seagate Technology (NASDAQ:STX) Price Target Lowered to $80.00 at Barclays

Seagate Technology (NASDAQ:STX) had its price objective trimmed by Barclays from $85.00 to $80.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the data storage provider’s stock.

Other equities analysts also recently issued reports about the stock. Evercore ISI initiated coverage on shares of Seagate Technology in a research note on Tuesday, February 27th. They set an outperform rating and a $110.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Seagate Technology from $70.00 to $100.00 and gave the company an outperform rating in a research note on Thursday, January 25th. TD Cowen increased their price objective on shares of Seagate Technology from $85.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $100.00 to $115.00 and gave the company a buy rating in a research note on Thursday, January 25th. Finally, Susquehanna raised their target price on shares of Seagate Technology from $50.00 to $55.00 and gave the company a negative rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of Hold and a consensus price target of $91.73.

Seagate Technology Price Performance

Shares of STX stock opened at $85.18 on Monday. The company has a market capitalization of $17.85 billion, a P/E ratio of -24.34, a P/E/G ratio of 681.49 and a beta of 1.04. The company’s 50-day simple moving average is $89.31 and its two-hundred day simple moving average is $82.47. Seagate Technology has a one year low of $54.47 and a one year high of $101.26.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.19. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. On average, research analysts expect that Seagate Technology will post 0.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were issued a $0.70 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.29%. Seagate Technology’s dividend payout ratio is currently -80.00%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of Seagate Technology by 3.9% during the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock worth $294,000 after purchasing an additional 130 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 144 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of Seagate Technology by 3.6% during the third quarter. NewEdge Wealth LLC now owns 4,214 shares of the data storage provider’s stock worth $278,000 after purchasing an additional 146 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Seagate Technology by 0.8% during the fourth quarter. Brighton Jones LLC now owns 18,754 shares of the data storage provider’s stock worth $1,601,000 after purchasing an additional 150 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Seagate Technology by 4.9% during the third quarter. IFP Advisors Inc now owns 3,542 shares of the data storage provider’s stock worth $234,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.