Seagate Technology Holdings plc (NASDAQ:STX) Receives $118.89 Consensus PT from Analysts

Seagate Technology Holdings plc (NASDAQ:STX) has received an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $118.89.

A number of equities analysts have weighed in on STX shares. Wall Street Zen lowered Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Mizuho lowered their price objective on Seagate Technology from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Barclays boosted their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. UBS Group boosted their price objective on Seagate Technology from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Finally, Bank of America boosted their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 4,201 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total transaction of $483,115.00. Following the sale, the executive vice president now owns 22,999 shares in the company, valued at $2,644,885. This represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 70,000 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $109.47, for a total value of $7,662,900.00. Following the sale, the chief executive officer now owns 485,677 shares in the company, valued at approximately $53,167,061.19. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 335,251 shares of company stock worth $38,760,472. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently bought and sold shares of the stock. Ameriflex Group Inc. purchased a new stake in Seagate Technology during the 4th quarter worth about $26,000. Elequin Capital LP purchased a new stake in Seagate Technology during the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new stake in Seagate Technology during the 4th quarter worth about $27,000. Wayfinding Financial LLC purchased a new stake in Seagate Technology during the 1st quarter worth about $31,000. Finally, Golden State Wealth Management LLC increased its holdings in Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 440 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $126.97 on Friday. The business’s 50 day moving average price is $93.33 and its 200-day moving average price is $94.13. The firm has a market capitalization of $26.95 billion, a PE ratio of 23.21 and a beta of 1.40. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $129.96.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, analysts expect that Seagate Technology will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.27%. Seagate Technology’s dividend payout ratio is presently 41.62%.

Seagate Technology announced that its board has initiated a stock buyback plan on Thursday, May 22nd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.