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

Seagate Technology Holdings PLC (NASDAQ:STX) has been assigned an average rating of “Moderate Buy” from the twenty-six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eighteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $293.1304.

STX has been the subject of several recent research reports. Susquehanna boosted their target price on shares of Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a research report on Wednesday, October 29th. Robert W. Baird boosted their price objective on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Rosenblatt Securities raised their target price on Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Sanford C. Bernstein lifted 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, Loop Capital increased their price target on Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research report on Monday, November 10th.

Insiders Place Their Bets

In other news, Director Stephanie Tilenius sold 2,046 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total value of $545,074.86. Following the transaction, the director owned 12,244 shares in the company, valued at $3,261,924.04. The trade was a 14.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total value of $1,620,000.00. Following the sale, the executive vice president directly owned 12,041 shares of the company’s stock, valued at $3,251,070. The trade was a 33.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 131,145 shares of company stock worth $36,425,168 in the last ninety days. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

Several large investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC grew its position in Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares during the period. TrueWealth Advisors LLC purchased a new position in Seagate Technology in the second quarter valued at about $703,000. Bangor Savings Bank grew its position in shares of Seagate Technology by 2.3% during the 2nd quarter. Bangor Savings Bank now owns 7,578 shares of the data storage provider’s stock valued at $1,094,000 after acquiring an additional 171 shares during the period. Insight Wealth Strategies LLC increased its stake in shares of Seagate Technology by 30.1% during the 2nd quarter. Insight Wealth Strategies LLC now owns 55,136 shares of the data storage provider’s stock worth $7,997,000 after purchasing an additional 12,762 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Seagate Technology by 39.6% in the 2nd quarter. Parallel Advisors LLC now owns 4,054 shares of the data storage provider’s stock worth $585,000 after purchasing an additional 1,151 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Up 6.9%

Shares of STX stock opened at $304.01 on Monday. The firm has a fifty day simple moving average of $278.12 and a two-hundred day simple moving average of $217.71. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $332.00. The firm has a market capitalization of $64.92 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, December 24th. 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 1.0%. Seagate Technology’s payout ratio is 38.00%.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.