Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $142.82 and last traded at $141.86, with a volume of 408030 shares trading hands. The stock had previously closed at $141.44.
Analyst Upgrades and Downgrades
STX has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target for the company in a report on Friday, May 16th. Bank of America upped their price objective on Seagate Technology from $135.00 to $145.00 and gave the company a "buy" rating in a report on Monday, June 9th. Mizuho dropped their target price on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Finally, Wedbush reaffirmed an "outperform" rating and set a $140.00 target price on shares of Seagate Technology in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $119.42.
View Our Latest Stock Analysis on Seagate Technology
Seagate Technology Trading Up 2.0%
The stock has a market capitalization of $30.63 billion, a PE ratio of 20.86 and a beta of 1.40. The business has a fifty day moving average price of $112.75 and a 200-day moving average price of $97.86.
Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The company's revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.
Seagate Technology Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.00%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is 41.62%.
Seagate Technology declared that its board has authorized a stock repurchase plan on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.
Insider Transactions at Seagate Technology
In related news, CEO William D. Mosley sold 70,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $109.47, for a total value of $7,662,900.00. Following the transaction, the chief executive officer owned 485,677 shares of the company's stock, valued at approximately $53,167,061.19. This trade represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 63,418 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $125.00, for a total transaction of $7,927,250.00. Following the completion of the sale, the executive vice president directly owned 14,658 shares of the company's stock, valued at $1,832,250. This represents a 81.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 393,791 shares of company stock valued at $46,380,998. Corporate insiders own 0.81% of the company's stock.
Institutional Investors Weigh In On Seagate Technology
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors grew its position in shares of Seagate Technology by 56.5% during the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock worth $1,348,262,000 after purchasing an additional 5,640,443 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Seagate Technology by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after acquiring an additional 2,161,191 shares during the last quarter. Vanguard Group Inc. lifted its stake in Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Seagate Technology by 3,339.4% during the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock valued at $79,343,000 after purchasing an additional 906,840 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Seagate Technology during the 4th quarter valued at about $77,341,000. 92.87% of the stock is owned by institutional investors.
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.
Featured Stories
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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
