Seagate Technology (NASDAQ:STX - Free Report) had its price objective trimmed by Mizuho from $115.00 to $95.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the data storage provider's stock.
Several other research firms have also weighed in on STX. Morgan Stanley reduced their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 21st. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Northland Securities restated an "outperform" rating and issued a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. UBS Group lifted their target price on Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Finally, Susquehanna increased their price target on Seagate Technology from $65.00 to $68.00 and gave the stock a "negative" rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $118.78.
Get Our Latest Analysis on Seagate Technology
Seagate Technology Stock Performance
NASDAQ:STX traded down $0.65 during mid-day trading on Thursday, hitting $72.02. The company had a trading volume of 1,417,941 shares, compared to its average volume of 2,765,850. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $115.32. The firm has a market cap of $15.25 billion, a P/E ratio of 13.17 and a beta of 1.21. The business's fifty day moving average is $88.73 and its two-hundred day moving average is $95.50.
Seagate Technology Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were paid a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 4.00%. Seagate Technology's dividend payout ratio is 52.65%.
Insider Transactions at Seagate Technology
In other news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at $46,988,047.12. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.81% of the company's stock.
Hedge Funds Weigh In On Seagate Technology
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Berkshire Bank boosted its stake in shares of Seagate Technology by 2.6% during the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider's stock worth $355,000 after acquiring an additional 103 shares during the period. MWA Asset Management raised its position in shares of Seagate Technology by 0.5% in the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider's stock valued at $1,695,000 after purchasing an additional 104 shares during the period. Johnson Financial Group Inc. raised its position in shares of Seagate Technology by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 112 shares during the period. JFS Wealth Advisors LLC lifted its stake in shares of Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after buying an additional 113 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Seagate Technology by 2.3% during the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock worth $431,000 after buying an additional 113 shares during the period. Institutional investors own 92.87% of the company's stock.
About Seagate Technology
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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.
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