Mizuho reaffirmed their buy rating on shares of Seagate Technology (NASDAQ:STX - Free Report) in a research note issued to investors on Tuesday, Benzinga reports. Mizuho currently has a $100.00 price objective on the data storage provider's stock.
STX has been the subject of a number of other reports. TD Cowen raised their price target on Seagate Technology from $85.00 to $110.00 and gave the company an outperform rating in a report on Thursday, January 25th. Cantor Fitzgerald reissued a neutral rating and issued a $95.00 target price on shares of Seagate Technology in a research note on Monday, March 4th. Wells Fargo & Company lifted their target price on Seagate Technology from $80.00 to $90.00 and gave the company an equal weight rating in a research note on Thursday, February 1st. 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 note on Thursday, January 11th. Finally, Barclays lifted their price objective on Seagate Technology from $65.00 to $85.00 and gave the stock an equal weight rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $85.83.
Read Our Latest Research Report on STX
Seagate Technology Price Performance
Shares of Seagate Technology stock traded up $0.38 during midday trading on Tuesday, hitting $89.53. 2,816,762 shares of the company were exchanged, compared to its average volume of 2,757,791. The firm has a market cap of $18.76 billion, a P/E ratio of -25.64, a PEG ratio of 1,487.44 and a beta of 1.04. Seagate Technology has a 52 week low of $54.32 and a 52 week high of $101.26. The firm has a 50 day simple moving average of $89.66 and a 200-day simple moving average of $81.05.
Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.19. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. Equities research analysts expect 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 given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, March 20th. Seagate Technology's dividend payout ratio is currently -80.00%.
Institutional Trading of Seagate Technology
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Seagate Technology during the fourth quarter worth approximately $26,000. CVA Family Office LLC acquired a new position in Seagate Technology during the fourth quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Seagate Technology during the fourth quarter worth approximately $28,000. Parkside Financial Bank & Trust increased its position in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider's stock worth $29,000 after buying an additional 205 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new position in Seagate Technology during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 92.87% of the company's stock.
About Seagate Technology
(
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.
See Also
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
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
