Seagate Technology Holdings PLC (NASDAQ:STX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) have been assigned an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $293.1304.

A number of equities research analysts have recently commented on STX shares. Cantor Fitzgerald raised their target price on Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Loop Capital raised their price objective on Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a report on Monday, November 10th. Robert W. Baird boosted their price objective on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Sanford C. Bernstein increased their target price on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Barclays lifted their price target on shares of Seagate Technology from $200.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th.

Insider Transactions at Seagate Technology

In related news, Director Stephanie Tilenius sold 2,046 shares of Seagate Technology stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $266.41, for a total value of $545,074.86. Following the sale, the director directly owned 12,244 shares in the company, valued at approximately $3,261,924.04. The trade was a 14.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Gianluca Romano sold 54,021 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. This trade represents a 48.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,555 shares of company stock worth $36,030,007 in the last three months. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at about $27,000. Rakuten Securities Inc. grew its stake in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. MTM Investment Management LLC purchased a new stake in Seagate Technology during the 2nd quarter valued at about $29,000. First Horizon Corp acquired a new stake in Seagate Technology in the 3rd quarter valued at about $33,000. Finally, Raiffeisen Bank International AG purchased a new position in Seagate Technology in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX stock opened at $277.65 on Thursday. Seagate Technology has a one year low of $63.19 and a one year high of $308.93. The firm’s fifty day moving average is $257.28 and its 200 day moving average is $198.00. The firm has a market cap of $59.29 billion, a PE ratio of 35.64, a P/E/G ratio of 1.13 and a beta of 1.59.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s dividend payout ratio is presently 36.97%.

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.