Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) earned an average recommendation of “Hold” from the twenty-eight rating agencies that cover the stock, MarketBeat.com reports. Fourteen research analysts gave the stock a hold rating and six gave the company a buy rating. The average 1-year price target among analysts who updated their coverage on the stock in the past year is $69.50.
STX has been the subject of several research reports. Stifel Nicolaus cut his price target on Seagate Technology shares from $120.00 to $97.00 and set a “buy” rating for the company in a Thursday, September 1 research report. Deutsche Bank Aktiengesellschaft lowered its price target on Seagate Technology shares from $60.00 to $55.00 in a Thursday, October 27 research note. Susquehanna lowered its price target on Seagate Technology shares from $40.00 to $38.00 in a Thursday, October 27 research note. Mizuho lowered its price target on Seagate Technology shares from $75.00 to $62.00 and set a “neutral” rating for the company in a Thursday, Oct. 27 research note. Finally, TheStreet upgraded Seagate Technology’s shares from a “b-” rating to a “c” rating in a Wednesday, October 26 research note.
Seagate Technology Price Performance
NASDAQ:STX shares opened at $54.57 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.19 and a debt ratio of 46.44. The company has a market capitalization of $11.27 billion, a P/E ratio of 10.49, a PEG ratio of 22.37 and a beta of 1.09. Seagate Technology has a 52-week low of $47.47 and a 52-week high of $117.67. The company has a 50-day moving average price of $55.34 and a 200-day moving average price of $69.86.
Seagate Technology (NASDAQ:STX – Get Rating) last released its quarterly results on Wednesday, October 26. The data storage provider reported earnings per share (EPS) of $0.37 for the quarter, missing analyst consensus estimates of $0.52 per ($0.15). Seagate Technology achieved a net margin of 10.89% and a return on equity of 716.97%. The company posted revenue of $2.04 billion for the quarter, versus analyst estimates of $2.11 billion. In the same quarter a year earlier, the company posted earnings of $2.27 per share. Seagate Technology revenue was down 34.7% year over year. Research analysts predict that Seagate Technology will post earnings per share of 1.99 for the current year.
Seagate Technology Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 5. Investors of record on Wednesday, December 21 will receive a dividend of $0.70 per share. The ex-dividend date is Tuesday, December 20. This represents an annualized dividend of $2.80 and a dividend yield of 5.13%. Seagate Technology’s payout ratio is 53.85%.
Hedge funds weigh in on Seagate technology
Several hedge funds and other institutional investors have recently changed their positions in STX. Oakworth Capital Inc. acquired a new position in Seagate Technology in Q2 worth $29,000. Hallmark Capital Management Inc. bought a new stake in Seagate Technology stock in Q2 for about $32,000. Ronald Blue Trust Inc. purchased a new stake in Seagate Technology stock in Q2 for a value of approximately $33,000. West Branch Capital LLC purchased a new stake in Seagate Technology stock in Q2 for approximately $35,000. Finally, Janiczek Wealth Management LLC increased its position in Seagate Technology shares by 286.4% in the second quarter. Janiczek Wealth Management LLC now owns 541 shares of the data storage provider worth $43,000 after buying 401 additional shares in the last quarter. Institutional investors and hedge funds hold 83.07% of the company’s shares.
Seagate Technology Company Profile
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Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands and internationally. It provides large capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video hard drives, and image storage and network storage drives.
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