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

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

A number of equities research analysts recently commented on STX shares. Northland Securities reiterated an “outperform” rating and issued a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Citigroup upped their price objective on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Barclays increased their price target on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Finally, Rosenblatt Securities increased their price target on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd.

Seagate Technology Trading Down 2.0 %

NASDAQ STX opened at $96.36 on Monday. The stock has a 50-day simple moving average of $95.10 and a 200 day simple moving average of $100.08. The company has a market capitalization of $20.40 billion, a PE ratio of 17.62 and a beta of 1.06. Seagate Technology has a 12 month low of $82.31 and a 12 month high of $115.32.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 2.99%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Insider Activity at Seagate Technology

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were 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 $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,073 shares of company stock valued at $3,115,549. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently made changes to their positions in the company. Sanders Capital LLC increased its stake in Seagate Technology by 0.9% during the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after acquiring an additional 150,115 shares during the period. State Street Corp increased its stake in Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after acquiring an additional 541,585 shares during the period. Geode Capital Management LLC increased its stake in Seagate Technology by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after acquiring an additional 318,416 shares during the period. Franklin Resources Inc. increased its stake in Seagate Technology by 29.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after acquiring an additional 405,232 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Seagate Technology by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock worth $145,447,000 after acquiring an additional 73,267 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.