Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) received an average rating of “Hold” from the twenty-five rating firms that currently cover the firm, reports MarketBeat.com. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokerage firms that have updated their coverage on the stock in the last year is $81.80.
Several research analysts recently commented on STX’s stock. Barclays lowered its price target on Seagate Technology to $65.00 from $70.00 and set an “equal weight” rating on the company in a research note on Thursday. Summit Insights downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Thursday, July 21. Susquehanna lowered his price target on Seagate Technology from $67.00 to $58.00 in a research note on Friday, July 22. The Goldman Sachs Group lowered its price target on Seagate Technology from $106.00 to $80.00 in a research note on Friday, July 15. Finally, Robert W. Baird lowered Seagate Technology’s price target from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday.
Seagate technology is trading down 0.7%
NASDAQ:STX shares opened at $65.47 on Monday. Seagate Technology has a 1-year minimum of $63.50 and a 1-year maximum of $117.67. The company has a market capitalization of $13.67 billion, a P/E ratio of 8.92, a P/E/Growth ratio of 8.84, and a beta of 1.07. The firm has a debt-to-equity ratio of 46.44, a current ratio of 1.13, and a quick ratio of 0.69. The company’s 50-day moving average price is $76.69 and its 200-day moving average price is $84.07.
Seagate Technology (NASDAQ:STX – Get Rated) last announced its earnings results on Thursday, July 21. The data storage provider reported earnings per share (EPS) of $1.41 for the quarter, missing analyst consensus estimates of $1.74 per ($0.33). Seagate Technology had a net margin of 14.14% and a return on equity of 412.90%. The business had revenue of $2.63 billion in the quarter, compared with analyst expectations of $2.8 billion. During the same quarter last year, the business earned $1.92 EPS. On average, stock research analysts forecast Seagate Technology to post 6.78 earnings per share for the current fiscal year.
Seagate Technology Dividend Announcement
The company also recently revealed a quarterly dividend, to be paid on Wednesday, October 5. Shareholders of record on Wednesday, September 21 will receive a dividend of $0.70. This represents an annualized dividend of $2.80 and a dividend yield of 4.28%. The ex-dividend date is Tuesday, September 20. Seagate Technology’s payout ratio is currently 38.15%.
Hedge funds weigh in on Seagate technology
Several hedge funds and other institutional investors have recently made changes to their positions in STX. Confluence Wealth Services Inc. increased its stake in Seagate Technology by 4.6% during the second quarter. Confluence Wealth Services Inc. now owns 2,815 shares of the data storage provider worth $232,000 after buying an additional 123 shares last quarter. OmniStar Financial Group Inc. increased its stake in Seagate Technology by 2.4% during the second quarter. OmniStar Financial Group Inc. now owns 5,286 shares of the data storage provider worth $377,000 after buying an additional 126 shares last quarter. McIlrath & Eck LLC increased its stake in Seagate Technology by 18.5% during the second quarter. McIlrath & Eck LLC now owns 840 shares of the data storage provider worth $60,000 after buying an additional 131 shares last quarter. Syntax Advisors LLC increased its stake in Seagate Technology by 5.1% during the first quarter. Syntax Advisors LLC now owns 2,793 shares of the data storage provider worth $251,000 after buying an additional 136 shares last quarter. Finally, Brighton Jones LLC increased its stake in Seagate Technology by 0.5% during the first quarter. Brighton Jones LLC now owns 28,271 shares of the data storage provider worth $2,542,000 after buying an additional 140 shares last quarter. Hedge funds and other institutional investors own 83.07% of the company’s shares.
About Seagate Technology
Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands and internationally. It provides massive capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid-state drives (SSDs), enterprise nearline systems, video and imaging HDDs, and network attached storage drives.
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