Seagate Technology Holdings plc (NASDAQ:STX) Receives $120.17 Consensus Target Price from Analysts

Seagate Technology Holdings plc (NASDAQ:STX) has received a consensus rating of “Moderate Buy” from the nineteen research firms that are currently covering the company, Marketbeat.com reports. One investment 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 target among brokerages that have issued ratings on the stock in the last year is $118.78.

Several equities analysts have recently weighed in on STX shares. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. Bank of America lowered their target price on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. UBS Group increased their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group cut their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Friday, January 10th.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the transaction, the chief executive officer now owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Several large investors have recently added to or reduced their stakes in STX. Capital Research Global Investors raised its stake in shares of Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock valued at $1,348,262,000 after acquiring an additional 5,640,443 shares in the last quarter. Vanguard Group Inc. increased its holdings in Seagate Technology by 6.9% during 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 during the period. Marshall Wace LLP purchased a new stake in Seagate Technology during the 4th quarter worth about $77,341,000. Junto Capital Management LP acquired a new stake in Seagate Technology in the 4th quarter valued at about $60,303,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Seagate Technology by 2,853.4% in the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider’s stock valued at $57,925,000 after buying an additional 648,257 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Up 3.6 %

Shares of Seagate Technology stock opened at $72.67 on Friday. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $115.32. The firm has a market capitalization of $15.38 billion, a PE ratio of 13.29 and a beta of 1.21. The firm’s 50-day moving average price is $88.73 and its 200 day moving average price is $95.50.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were issued a $0.72 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 3.96%. Seagate Technology’s dividend payout ratio is currently 52.65%.

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.