Seagate Technology Holdings plc (NASDAQ:STX) Receives $121.56 Consensus PT from Analysts

Seagate Technology Holdings plc (NASDAQ:STX) has earned an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $121.00.

Several equities analysts recently weighed in on STX shares. Northland Securities restated an “outperform” rating and issued a $160.00 price target (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Rosenblatt Securities lifted their price target on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their price target on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Citigroup cut their price target on Seagate Technology from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Seagate Technology by 14.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,511 shares of the data storage provider’s stock worth $1,252,000 after purchasing an additional 1,832 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Seagate Technology during the 4th quarter worth approximately $6,090,000. Siemens Fonds Invest GmbH boosted its holdings in shares of Seagate Technology by 116.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 4,392 shares of the data storage provider’s stock worth $379,000 after purchasing an additional 2,367 shares during the last quarter. Menard Financial Group LLC acquired a new position in Seagate Technology in the fourth quarter valued at approximately $50,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Seagate Technology by 0.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider’s stock valued at $1,327,000 after acquiring an additional 134 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Down 0.6 %

Shares of STX stock opened at $88.38 on Tuesday. The stock has a market cap of $18.71 billion, a PE ratio of 16.16 and a beta of 1.01. The business has a 50-day simple moving average of $96.33 and a 200-day simple moving average of $98.84. Seagate Technology has a 52-week low of $82.31 and a 52-week high of $115.32.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is currently 52.65%.

Seagate Technology Company Profile

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.