Brokerages Set Seagate Technology Holdings plc (NASDAQ:STX) Target Price at $114.89

Shares of Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $114.89.

A number of research analysts have issued reports on STX shares. Northland Securities reaffirmed an "outperform" rating and issued a $160.00 target price (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Rosenblatt Securities restated a "buy" rating and set a $130.00 target price on shares of Seagate Technology in a report on Wednesday, April 30th. Wells Fargo & Company cut their target price on shares of Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Citigroup cut their target price on shares of Seagate Technology from $115.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Susquehanna upped their target price on shares of Seagate Technology from $65.00 to $68.00 and gave the company a "negative" rating in a research note on Wednesday, January 22nd.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors LLC acquired a new stake in Seagate Technology in the 3rd quarter valued at $217,000. Wilmington Savings Fund Society FSB acquired a new stake in Seagate Technology in the 3rd quarter valued at $54,000. Tidal Investments LLC increased its stake in Seagate Technology by 21.3% in the 3rd quarter. Tidal Investments LLC now owns 5,441 shares of the data storage provider's stock valued at $596,000 after buying an additional 956 shares during the last quarter. Synovus Financial Corp increased its stake in Seagate Technology by 36.6% in the 3rd quarter. Synovus Financial Corp now owns 4,054 shares of the data storage provider's stock valued at $444,000 after buying an additional 1,087 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in Seagate Technology by 7.3% in the 3rd quarter. Retirement Systems of Alabama now owns 46,213 shares of the data storage provider's stock valued at $5,062,000 after buying an additional 3,135 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

Shares of STX traded up $7.05 during mid-day trading on Wednesday, hitting $102.76. 538,990 shares of the company were exchanged, compared to its average volume of 2,865,480. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of 18.79 and a beta of 1.32. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $115.32. The company has a 50 day moving average of $82.82 and a 200-day moving average of $92.19.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm's revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. Research analysts anticipate that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 41.62%.

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.