Seagate Technology Holdings Plc (NASDAQ:STX) Receives Average Rating of "Hold" From Brokerages

Financial News Live · Mar 29, 2023 15:43

Shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) have earned a consensus rating of "Hold" from the twenty-eight analysts that are presently covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $68.91.

STX has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on Seagate Technology from $60.00 to $70.00 in a research note on Thursday, January 26th. StockNews.com initiated coverage on Seagate Technology in a research note on Thursday, March 16th. They issued a "hold" rating for the company. Barclays upped their price target on Seagate Technology from $70.00 to $75.00 in a research note on Thursday, January 26th. Mizuho upgraded Seagate Technology from a "neutral" rating to a "buy" rating and upped their price target for the stock from $62.00 to $82.00 in a research note on Friday, February 10th. Finally, Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Thursday, January 26th.

Get Seagate Technology alerts:

Insider Activity at Seagate Technology

In related news, EVP Jeffrey D. Nygaard sold 36,809 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $69.14, for a total transaction of $2,544,974.26. Following the sale, the executive vice president now owns 30,360 shares in the company, valued at approximately $2,099,090.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently made changes to their positions in the company. Vestmark Advisory Solutions Inc. grew its stake in Seagate Technology by 7.7% in the third quarter. Vestmark Advisory Solutions Inc. now owns 27,899 shares of the data storage provider's stock valued at $1,485,000 after purchasing an additional 1,984 shares during the last quarter. LPL Financial LLC purchased a new stake in shares of Seagate Technology during the second quarter worth about $11,170,000. Simmons Bank grew its stake in shares of Seagate Technology by 3.7% during the third quarter. Simmons Bank now owns 5,577 shares of the data storage provider's stock worth $297,000 after acquiring an additional 198 shares during the last quarter. SPC Financial Inc. grew its stake in shares of Seagate Technology by 4.7% during the third quarter. SPC Financial Inc. now owns 4,425 shares of the data storage provider's stock worth $236,000 after acquiring an additional 200 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of Seagate Technology by 26.8% during the second quarter. Ensign Peak Advisors Inc now owns 170,900 shares of the data storage provider's stock worth $12,209,000 after acquiring an additional 36,160 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company's stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $60.43 on Friday. Seagate Technology has a fifty-two week low of $47.47 and a fifty-two week high of $94.68. The business has a 50-day simple moving average of $65.34 and a two-hundred day simple moving average of $58.33. The company has a debt-to-equity ratio of 46.44, a quick ratio of 0.69 and a current ratio of 1.13. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 52.20 and a beta of 1.07.

Seagate Technology (NASDAQ:STX – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The data storage provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. Seagate Technology had a net margin of 6.61% and a negative return on equity of 1,031.05%. The business's revenue for the quarter was down 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.28 EPS. On average, analysts expect that Seagate Technology will post 0.98 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Wednesday, March 22nd will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 21st. This represents a $2.80 annualized dividend and a yield of 4.63%. Seagate Technology's payout ratio is presently 99.64%.

Seagate Technology Company Profile

(Get Rating)

Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.