Seagate Technology (NASDAQ:STX) PT Raised to $140.00

Seagate Technology (NASDAQ:STX) had its target price lifted by Rosenblatt Securities from $125.00 to $140.00 in a research note published on Wednesday morning, Benzinga reports. Rosenblatt Securities currently has a buy rating on the data storage provider’s stock.

A number of other research analysts also recently commented on STX. Wedbush increased their price target on shares of Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Susquehanna raised their price objective on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. Evercore ISI boosted their target price on Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, July 24th. Finally, Citigroup boosted their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Seagate Technology Trading Down 0.9 %

Shares of Seagate Technology stock opened at $103.01 on Wednesday. The firm has a market cap of $21.63 billion, a PE ratio of -79.85 and a beta of 1.04. The stock has a 50 day moving average of $105.16 and a 200 day moving average of $99.75. Seagate Technology has a 12 month low of $64.12 and a 12 month high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) EPS. As a group, equities research analysts forecast that Seagate Technology will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,398 shares of company stock valued at $23,238,106 in the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC lifted its position in shares of Seagate Technology by 232.5% during the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after buying an additional 293 shares during the last quarter. SteelPeak Wealth LLC raised its stake in shares of Seagate Technology by 541.3% during the 3rd quarter. SteelPeak Wealth LLC now owns 14,160 shares of the data storage provider’s stock worth $1,561,000 after acquiring an additional 11,952 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in Seagate Technology by 18.2% during the third quarter. First Trust Direct Indexing L.P. now owns 8,163 shares of the data storage provider’s stock valued at $894,000 after acquiring an additional 1,259 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Seagate Technology by 2.7% in the third quarter. New York State Teachers Retirement System now owns 175,239 shares of the data storage provider’s stock worth $19,194,000 after purchasing an additional 4,659 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in shares of Seagate Technology during the third quarter worth $202,000. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.