Seagate Technology (NASDAQ:STX - Free Report) had its price target lifted by Susquehanna from $50.00 to $55.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Susquehanna currently has a negative rating on the data storage provider's stock.
Several other analysts also recently issued reports on STX. Wells Fargo & Company raised their price target on Seagate Technology from $80.00 to $90.00 and gave the stock an equal weight rating in a report on Thursday, February 1st. Cantor Fitzgerald reaffirmed a neutral rating and set a $95.00 target price on shares of Seagate Technology in a research note on Monday, March 4th. Evercore ISI started coverage on Seagate Technology in a research note on Tuesday, February 27th. They set an outperform rating and a $110.00 target price on the stock. The Goldman Sachs Group lifted their target price on Seagate Technology from $65.00 to $84.00 and gave the company a neutral rating in a research note on Friday, January 26th. Finally, Morgan Stanley raised Seagate Technology from an equal weight rating to an overweight rating and lifted their target price for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $86.67.
Check Out Our Latest Stock Analysis on STX
Seagate Technology Price Performance
Shares of NASDAQ STX traded down $1.54 during mid-day trading on Wednesday, hitting $87.99. The company had a trading volume of 3,200,189 shares, compared to its average volume of 2,764,202. The stock has a market cap of $18.43 billion, a price-to-earnings ratio of -25.14, a PEG ratio of 1,473.55 and a beta of 1.04. Seagate Technology has a 12 month low of $54.32 and a 12 month high of $101.26. The firm's 50 day simple moving average is $89.75 and its two-hundred day simple moving average is $81.27.
Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.19. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. Equities analysts forecast that Seagate Technology will post 0.05 earnings per share for the current year.
Seagate Technology Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Wednesday, March 20th. Seagate Technology's payout ratio is -80.00%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Seagate Technology during the fourth quarter valued at $26,000. CVA Family Office LLC purchased a new position in shares of Seagate Technology during the fourth quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in Seagate Technology in the fourth quarter valued at about $28,000. Northwest Financial Advisors purchased a new position in Seagate Technology in the fourth quarter valued at about $31,000. Finally, Parkside Financial Bank & Trust grew its stake in Seagate Technology by 85.4% in the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider's stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.
Seagate Technology Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Seagate Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Seagate Technology wasn't on the list.
While Seagate Technology currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
