Brokerages Set Seagate Technology Holdings plc (NASDAQ:STX) PT at $95.50

Seagate Technology Holdings plc (NASDAQ:STX) has been assigned a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $95.50.

Several equities analysts recently issued reports on STX shares. Evercore ISI started coverage on Seagate Technology in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price objective on the stock. Citigroup started coverage on Seagate Technology in a research report on Tuesday, May 14th. They issued a “buy” rating and a $110.00 price objective on the stock. Cantor Fitzgerald upped their price objective on Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group upped their price objective on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, UBS Group upped their price objective on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th.

Seagate Technology Stock Up 0.8 %

Shares of STX opened at $94.19 on Wednesday. The business’s 50 day moving average price is $89.56 and its 200-day moving average price is $85.91. Seagate Technology has a 52 week low of $57.06 and a 52 week high of $101.26. The stock has a market cap of $19.78 billion, a P/E ratio of -73.04, a P/E/G ratio of 193.66 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm earned ($0.43) earnings per share. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, equities analysts anticipate that Seagate Technology will post 0.4 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued 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 2.97%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Insider Buying and Selling

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Csenge Advisory Group grew its position in shares of Seagate Technology by 1.4% during the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock valued at $788,000 after purchasing an additional 119 shares in the last quarter. Burney Co. grew its position in Seagate Technology by 3.3% in the first quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock worth $367,000 after acquiring an additional 125 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Seagate Technology by 1.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock worth $786,000 after acquiring an additional 126 shares in the last quarter. Graypoint LLC grew its position in Seagate Technology by 4.9% in the first quarter. Graypoint LLC now owns 2,710 shares of the data storage provider’s stock worth $252,000 after acquiring an additional 127 shares in the last quarter. Finally, CWM LLC grew its position in Seagate Technology by 3.9% in the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock worth $294,000 after acquiring an additional 130 shares in the last quarter. 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.