Seagate Technology (NASDAQ:STX) Price Target Raised to $95.00

Seagate Technology (NASDAQ:STX - Free Report) had its price objective lifted by UBS Group from $90.00 to $95.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the data storage provider's stock.

Other equities analysts have also recently issued reports about the company. Susquehanna lifted their price target on Seagate Technology from $50.00 to $55.00 and gave the company a negative rating in a research report on Wednesday, April 10th. Robert W. Baird raised their price objective on Seagate Technology from $70.00 to $100.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an equal weight rating in a research note on Thursday, February 1st. Evercore ISI began coverage on Seagate Technology in a research note on Tuesday, February 27th. They set an outperform rating and a $110.00 price objective for the company. Finally, BNP Paribas cut Seagate Technology from a neutral rating to an underperform rating and set a $65.00 target price for the company. in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $94.53.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded up $0.58 on Wednesday, reaching $87.11. 7,274,222 shares of the company were exchanged, compared to its average volume of 2,855,891. Seagate Technology has a 1-year low of $54.47 and a 1-year high of $101.26. The firm has a market cap of $18.25 billion, a price-to-earnings ratio of -24.24, a P/E/G ratio of 703.97 and a beta of 1.04. The company's 50-day moving average is $89.29 and its two-hundred day moving average is $82.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned ($0.43) earnings per share. The firm's revenue was down 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Seagate Technology will post 0.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. Seagate Technology's dividend payout ratio is -80.00%.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in Seagate Technology by 3.9% during the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider's stock valued at $294,000 after buying an additional 130 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Seagate Technology by 8.6% during the first quarter. Global Retirement Partners LLC now owns 1,735 shares of the data storage provider's stock valued at $161,000 after buying an additional 138 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider's stock valued at $43,000 after buying an additional 144 shares in the last quarter. NewEdge Wealth LLC raised its holdings in Seagate Technology by 3.6% during the third quarter. NewEdge Wealth LLC now owns 4,214 shares of the data storage provider's stock valued at $278,000 after buying an additional 146 shares in the last quarter. Finally, Brighton Jones LLC increased its stake in shares of Seagate Technology by 0.8% in the fourth quarter. Brighton Jones LLC now owns 18,754 shares of the data storage provider's stock worth $1,601,000 after purchasing an additional 150 shares during the period. 92.87% of the stock is currently owned by institutional investors.

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.