Seagate Technology (NASDAQ:STX) PT Raised to $55.00 at Susquehanna

Seagate Technology (NASDAQ:STX) had its price objective raised by Susquehanna from $50.00 to $55.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a negative rating on the data storage provider’s stock.

Several other research firms have also commented on STX. TD Cowen raised their target price on Seagate Technology from $85.00 to $110.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Wedbush reaffirmed a neutral rating and set a $100.00 target price on shares of Seagate Technology in a report on Thursday, January 25th. Rosenblatt Securities raised their price objective on Seagate Technology from $100.00 to $115.00 and gave the company a buy rating in a report on Thursday, January 25th. Wells Fargo & Company raised their price objective on Seagate Technology from $80.00 to $90.00 and gave the company an equal weight rating in a report on Thursday, February 1st. Finally, Robert W. Baird raised their price objective on Seagate Technology from $70.00 to $100.00 and gave the company an outperform rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $86.67.

Seagate Technology Stock Performance

Shares of STX stock opened at $87.99 on Wednesday. The firm has a market capitalization of $18.43 billion, a PE ratio of -25.14, a P/E/G ratio of 1,473.55 and a beta of 1.04. Seagate Technology has a fifty-two week low of $54.32 and a fifty-two week high of $101.26. The stock’s 50-day simple moving average is $89.75 and its 200-day simple moving average is $81.27.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.19. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. Sell-side analysts forecast that Seagate Technology will post 0.05 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were given a $0.70 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. Seagate Technology’s dividend payout ratio (DPR) is presently -80.00%.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after buying an additional 1,485,937 shares in the last quarter. Gotham Asset Management LLC lifted its position in Seagate Technology by 51.1% during the third quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock worth $5,717,000 after buying an additional 29,323 shares in the last quarter. SG Americas Securities LLC lifted its position in Seagate Technology by 78.4% during the fourth quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock worth $3,292,000 after buying an additional 16,950 shares in the last quarter. Nordea Investment Management AB lifted its position in Seagate Technology by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 13,293 shares of the data storage provider’s stock worth $1,144,000 after buying an additional 630 shares in the last quarter. Finally, Teza Capital Management LLC lifted its position in Seagate Technology by 884.8% during the third quarter. Teza Capital Management LLC now owns 32,566 shares of the data storage provider’s stock worth $2,148,000 after buying an additional 29,259 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.