Seagate Technology Holdings plc (NASDAQ:STX) Receives $94.53 Consensus Price Target from Analysts

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been assigned an average recommendation of “Hold” from the seventeen brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $94.53.

Several equities research analysts recently commented on the company. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Cantor Fitzgerald upped their price target on Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wedbush reissued a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a report on Wednesday, April 24th. Robert W. Baird lifted their target price on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a research note on Thursday, January 11th.

Seagate Technology Stock Up 0.0 %

Shares of NASDAQ:STX opened at $86.08 on Friday. The company has a market cap of $18.03 billion, a P/E ratio of -66.73, a price-to-earnings-growth ratio of 238.62 and a beta of 1.04. The company’s fifty day moving average is $89.22 and its two-hundred day moving average is $83.14. Seagate Technology has a 12-month low of $54.47 and a 12-month high of $101.26.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the firm earned ($0.43) EPS. The company’s revenue was down 11.0% compared to the same quarter last year. Equities research analysts anticipate that Seagate Technology will post 0.3 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. Seagate Technology’s payout ratio is -217.05%.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Seagate Technology by 1.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock valued at $786,000 after purchasing an additional 126 shares in the last quarter. CWM LLC raised its stake in shares of Seagate Technology by 3.9% in the 4th quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after purchasing an additional 130 shares during the period. Heritage Investors Management Corp lifted its holdings in shares of Seagate Technology by 2.9% in the first quarter. Heritage Investors Management Corp now owns 4,835 shares of the data storage provider’s stock valued at $450,000 after purchasing an additional 134 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Seagate Technology by 8.6% during the first quarter. Global Retirement Partners LLC now owns 1,735 shares of the data storage provider’s stock worth $161,000 after buying an additional 138 shares in the last quarter. Finally, Valley National Advisers Inc. raised its position in Seagate Technology by 39.7% in the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after buying an additional 144 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.