Seagate Technology Holdings plc (NASDAQ:STX) Receives $115.94 Consensus Price Target from Analysts

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been given a consensus rating of “Hold” by the twenty analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $115.94.

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Rosenblatt Securities lifted their target price on shares of Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wedbush lifted their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. UBS Group lifted their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, July 24th.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares of the company’s stock, valued at approximately $592,570. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 10,117 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at approximately $592,570. The disclosure for this sale can be found here. Insiders have sold a total of 203,284 shares of company stock valued at $21,647,287 in the last 90 days. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital Research Global Investors lifted its position in Seagate Technology by 39.3% in the fourth quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after buying an additional 4,685,454 shares during the last quarter. Vanguard Group Inc. lifted its position in Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after buying an additional 746,395 shares during the last quarter. Sanders Capital LLC lifted its position in Seagate Technology by 3.0% in the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock valued at $1,322,053,000 after buying an additional 443,768 shares during the last quarter. Putnam Investments LLC lifted its position in Seagate Technology by 124.3% in the fourth quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock valued at $58,091,000 after buying an additional 377,148 shares during the last quarter. Finally, Delta Global Management LP acquired a new position in Seagate Technology in the first quarter valued at about $33,478,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Up 0.7 %

Shares of NASDAQ STX opened at $109.53 on Tuesday. Seagate Technology has a 12 month low of $64.12 and a 12 month high of $113.57. The company has a 50 day simple moving average of $101.37 and a two-hundred day simple moving average of $97.12. The stock has a market cap of $23.00 billion, a price-to-earnings ratio of -84.91 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.29) EPS. Analysts forecast that Seagate Technology will post 6.72 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.56%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

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.