Seagate Technology (NASDAQ:STX) Upgraded at StockNews.com

StockNews.com upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other research analysts have also weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and issued a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Mizuho reduced their target price on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Stock Performance

NASDAQ STX opened at $96.15 on Wednesday. Seagate Technology has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The stock has a market cap of $20.36 billion, a P/E ratio of 17.58 and a beta of 1.07. The stock has a 50 day simple moving average of $94.64 and a two-hundred day simple moving average of $99.90.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 3.00%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Insider Buying and Selling at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the transaction, the chief executive officer now owns 622,497 shares in the company, valued at $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,891 shares of company stock worth $2,146,848 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of STX. Czech National Bank raised its holdings in shares of Seagate Technology by 14.9% in the third quarter. Czech National Bank now owns 42,777 shares of the data storage provider’s stock worth $4,685,000 after buying an additional 5,563 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Seagate Technology by 75.1% in the third quarter. GAMMA Investing LLC now owns 2,928 shares of the data storage provider’s stock worth $321,000 after buying an additional 1,256 shares during the last quarter. Brookstone Capital Management raised its holdings in shares of Seagate Technology by 10.9% in the third quarter. Brookstone Capital Management now owns 12,856 shares of the data storage provider’s stock worth $1,408,000 after buying an additional 1,268 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new position in shares of Seagate Technology in the third quarter worth $3,637,000. Finally, Perpetual Ltd raised its holdings in shares of Seagate Technology by 51.4% in the third quarter. Perpetual Ltd now owns 4,201 shares of the data storage provider’s stock worth $460,000 after buying an additional 1,426 shares during 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.