Seagate Technology (NASDAQ:STX – Free Report) had its price target boosted by Bank of America from $124.00 to $130.00 in a research note released on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the data storage provider’s stock.
Several other research analysts also recently weighed in on STX. Rosenblatt Securities boosted their price target on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI lifted their price target on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $122.56.
View Our Latest Analysis on STX
Seagate Technology Stock Down 0.2 %
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted ($0.34) earnings per share. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. As a group, equities analysts expect that Seagate Technology will post 6.92 EPS for the current fiscal year.
Seagate Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.66%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.
Insider Buying and Selling at Seagate Technology
In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the sale, the director now directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 50,073 shares of company stock valued at $5,106,149 over the last 90 days. 0.81% of the stock is owned by corporate insiders.
Institutional Trading of Seagate Technology
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in Seagate Technology during the 3rd quarter worth $26,000. Quarry LP bought a new position in shares of Seagate Technology during the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after buying an additional 258 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after buying an additional 293 shares during the last quarter. 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.
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