Seagate Technology (NASDAQ:STX) PT Raised to $125.00 at Cantor Fitzgerald

Seagate Technology (NASDAQ:STX) had its target price lifted by Cantor Fitzgerald from $120.00 to $125.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the data storage provider’s stock.

STX has been the subject of several other reports. Wedbush upped their target price on Seagate Technology from $100.00 to $130.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. Evercore ISI upped their target price on Seagate Technology from $110.00 to $125.00 and gave the stock an outperform rating in a research note on Tuesday, July 16th. Susquehanna upped their target price on Seagate Technology from $55.00 to $65.00 and gave the stock a negative rating in a research note on Wednesday. The Goldman Sachs Group upped their target price on Seagate Technology from $84.00 to $96.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Finally, Benchmark reaffirmed a hold rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $115.94.

Seagate Technology Trading Down 0.3 %

Shares of NASDAQ:STX opened at $103.68 on Wednesday. Seagate Technology has a 12-month low of $57.79 and a 12-month high of $113.57. The company has a market capitalization of $21.77 billion, a PE ratio of -80.37 and a beta of 1.02. The business has a 50 day moving average of $101.31 and a two-hundred day moving average of $93.16.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the company posted ($0.29) earnings per share. Seagate Technology’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts predict that Seagate Technology will post 5.65 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s payout ratio is currently -217.05%.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the completion of the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at approximately $592,570. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the transaction, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now owns 5,387 shares of the company’s stock, valued at $592,570. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,648 shares of company stock worth $4,705,816. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of STX. HB Wealth Management LLC purchased a new position in Seagate Technology during the 4th quarter valued at about $203,000. CVA Family Office LLC purchased a new position in Seagate Technology during the 4th quarter valued at about $27,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Seagate Technology by 17.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 81,627 shares of the data storage provider’s stock valued at $6,969,000 after acquiring an additional 12,047 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in Seagate Technology during the 4th quarter valued at about $287,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Seagate Technology by 2.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 9,251 shares of the data storage provider’s stock valued at $790,000 after acquiring an additional 207 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

About Seagate Technology

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.