Seagate Technology (NASDAQ:STX) Lifted to "Outperform" at Wedbush

Wedbush upgraded shares of Seagate Technology (NASDAQ:STX - Free Report) from a neutral rating to an outperform rating in a research note released on Wednesday, MarketBeat.com reports. They currently have $100.00 target price on the data storage provider's stock. Wedbush also issued estimates for Seagate Technology's Q4 2024 earnings at $0.65 EPS, FY2024 earnings at $0.49 EPS, Q1 2025 earnings at $1.01 EPS, Q2 2025 earnings at $1.54 EPS, Q3 2025 earnings at $1.74 EPS, Q4 2025 earnings at $1.99 EPS and FY2025 earnings at $6.27 EPS.

A number of other research analysts have also recently commented on STX. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a buy rating in a research report on Thursday, January 25th. UBS Group lifted their price target on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. BNP Paribas lowered shares of Seagate Technology from a neutral rating to an underperform rating and set a $65.00 price target for the company. in a research note on Thursday, January 11th. Susquehanna lifted their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a negative rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $84.00 to $96.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of Hold and an average target price of $94.53.

Seagate Technology Stock Down 0.1 %

Shares of NASDAQ STX traded down $0.10 during trading on Wednesday, reaching $85.81. 2,047,651 shares of the stock were exchanged, compared to its average volume of 2,840,845. The business's 50-day moving average price is $89.22 and its 200 day moving average price is $83.28. Seagate Technology has a twelve month low of $54.47 and a twelve month high of $101.26. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of -66.52, a price-to-earnings-growth ratio of 238.73 and a beta of 1.04.

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, topping analysts' consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the firm posted ($0.43) earnings per share. The company's revenue for the quarter was down 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology will post 0.3 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business 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 $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, June 20th. Seagate Technology's payout ratio is currently -217.05%.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors have recently bought and sold shares of STX. Vanguard Group Inc. lifted its holdings in Seagate Technology by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 24,006,681 shares of the data storage provider's stock valued at $2,049,450,000 after acquiring an additional 425,117 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider's stock valued at $1,166,022,000 after acquiring an additional 1,485,937 shares during the last quarter. Capital Research Global Investors lifted its holdings in Seagate Technology by 39.3% in the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider's stock valued at $1,418,413,000 after acquiring an additional 4,685,454 shares during the last quarter. Sanders Capital LLC lifted its holdings in Seagate Technology by 3.0% in the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider's stock valued at $1,322,053,000 after acquiring an additional 443,768 shares during the last quarter. Finally, FMR LLC lifted its holdings in Seagate Technology by 13.1% in the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider's stock valued at $918,664,000 after acquiring an additional 1,612,264 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

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.