StockNews.com upgraded shares of Seagate Technology (NASDAQ:STX – Free Report) from a hold rating to a buy rating in a research note published on Monday.
A number of other research firms have also weighed in on STX. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group decreased their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Rosenblatt Securities increased their target price on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Barclays boosted their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 22nd. Finally, UBS Group increased their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.56.
Check Out Our Latest Report on STX
Seagate Technology Price Performance
Seagate Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is presently 52.65%.
Insider Activity
In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the sale, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s 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 completion of the transaction, the director now owns 6,555 shares in the company, valued at $667,430.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,073 shares of company stock valued at $5,106,149. 0.81% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Seagate Technology
Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its holdings in Seagate Technology by 133.8% in the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after buying an additional 98,418 shares during the period. Versor Investments LP purchased a new position in shares of Seagate Technology in the 3rd quarter valued at approximately $2,146,000. Forte Capital LLC ADV grew its stake in Seagate Technology by 29.8% in the third quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after purchasing an additional 6,653 shares during the period. International Assets Investment Management LLC raised its holdings in Seagate Technology by 3,549.7% in the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock worth $22,398,000 after purchasing an additional 198,890 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Seagate Technology by 341.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock valued at $143,370,000 after buying an additional 1,012,638 shares during the period. 92.87% of the stock is currently owned by institutional investors.
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.
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