Seagate Technology Holdings plc (NASDAQ:STX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $118.78.

A number of research firms have recently issued reports on STX. Northland Securities restated an “outperform” rating and issued a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Susquehanna lifted their price target on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research report on Wednesday, January 22nd. Morgan Stanley cut their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Finally, Barclays lifted their target price on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd.

Seagate Technology Stock Up 4.1 %

Shares of NASDAQ STX opened at $75.80 on Friday. The business has a 50 day moving average price of $86.90 and a two-hundred day moving average price of $94.73. 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 $16.05 billion, a PE ratio of 13.86 and a beta of 1.21.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were given a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 3.80%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Tuesday, April 1st. The stock was 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 owns 555,677 shares of the company’s stock, valued at $46,988,047.12. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. acquired a new stake in Seagate Technology during the fourth quarter valued at $26,000. Elequin Capital LP bought a new position in Seagate Technology during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new stake in Seagate Technology in the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Seagate Technology during the 3rd quarter worth $54,000. Finally, JFS Wealth Advisors LLC lifted its stake in shares of Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other 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.