Seagate Technology Holdings plc (NASDAQ:STX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $122.56.

Several brokerages recently weighed in on STX. Mizuho decreased their target price on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Barclays increased their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Citigroup lifted their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group lowered their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th.

Seagate Technology Stock Down 0.4 %

Shares of NASDAQ:STX opened at $99.72 on Friday. The company has a market cap of $21.11 billion, a PE ratio of 18.23 and a beta of 1.07. Seagate Technology has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The firm has a 50-day simple moving average of $95.22 and a 200 day simple moving average of $99.95.

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 paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is 52.65%.

Insider Transactions at Seagate Technology

In other news, 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 transaction of $2,056,600.00. Following the transaction, the chief executive officer now owns 622,497 shares in the company, valued at approximately $64,011,366.51. The trade was a 3.11 % 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, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were 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 $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,891 shares of company stock valued at $2,146,848. 0.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after purchasing an additional 98,418 shares during the period. Versor Investments LP bought a new position in shares of Seagate Technology during the third quarter valued at about $2,146,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Seagate Technology by 9.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider’s stock worth $4,215,000 after purchasing an additional 4,229 shares in the last quarter. Forte Capital LLC ADV lifted its position in Seagate Technology by 29.8% during the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock valued at $3,173,000 after acquiring an additional 6,653 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Seagate Technology by 3,549.7% during the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock valued at $22,398,000 after acquiring an additional 198,890 shares in the last quarter. Institutional investors and hedge funds 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.