Seagate Technology (NASDAQ:STX) Sets New 1-Year High at $107.95

Shares of Seagate Technology Holdings plc (NASDAQ:STX) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $107.95 and last traded at $107.91, with a volume of 287929 shares changing hands. The stock had previously closed at $106.11.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wedbush upgraded Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research report on Wednesday, May 1st. Mizuho lifted their price target on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Susquehanna upped their price objective on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a report on Wednesday, April 10th. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Finally, Loop Capital increased their price target on shares of Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.29.

Seagate Technology Stock Up 2.0 %

The company’s fifty day moving average is $98.51 and its two-hundred day moving average is $91.37. The stock has a market cap of $22.72 billion, a price-to-earnings ratio of -82.26 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Seagate Technology’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.43) earnings per share. Sell-side analysts predict that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 20th were paid a $0.70 dividend. The ex-dividend date was Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 2.59%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 10,742 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the transaction, the executive vice president now owns 5,042 shares in the company, valued at approximately $504,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at $504,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John Christopher Morris sold 5,928 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total transaction of $592,740.72. Following the sale, the senior vice president now owns 12,185 shares of the company’s stock, valued at approximately $1,218,378.15. The disclosure for this sale can be found here. Insiders have sold 37,531 shares of company stock valued at $3,592,946 in the last ninety days. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several large investors have recently modified their holdings of STX. CWM LLC increased its stake in Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after buying an additional 97 shares during the period. Csenge Advisory Group increased its stake in shares of Seagate Technology by 1.4% during the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after acquiring an additional 119 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in Seagate Technology by 3.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after purchasing an additional 122 shares in the last quarter. Burney Co. lifted its position in Seagate Technology by 3.3% in the first quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock valued at $367,000 after purchasing an additional 125 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Seagate Technology by 1.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock valued at $786,000 after purchasing an additional 126 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.