Seagate Technology Holdings plc (NASDAQ:STX) Given Average Rating of “Hold” by Brokerages

Seagate Technology Holdings plc (NASDAQ:STX) has received a consensus rating of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $94.53.

Several research firms have weighed in on STX. Evercore ISI began coverage on shares of Seagate Technology in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price target for the company. UBS Group boosted their target price on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird upped their target price on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently added to or reduced their stakes in the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Seagate Technology in the 4th quarter worth $26,000. CVA Family Office LLC bought a new stake in Seagate Technology during the fourth quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Seagate Technology during the fourth quarter worth about $28,000. Northwest Financial Advisors bought a new stake in Seagate Technology during the fourth quarter worth about $31,000. Finally, Parkside Financial Bank & Trust boosted its stake in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $85.81 on Friday. The firm has a market cap of $18.02 billion, a PE ratio of -66.52, a price-to-earnings-growth ratio of 238.73 and a beta of 1.04. The firm’s fifty day moving average is $89.22 and its 200-day moving average is $83.28. Seagate Technology has a 52 week low of $54.47 and a 52 week high of $101.26.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Seagate Technology’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.43) EPS. Sell-side analysts forecast that Seagate Technology will post 0.3 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s payout ratio is presently -217.05%.

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.