Shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) received a consensus recommendation of “Hold” from the twenty-four analysts who currently cover the company, MarketBeat reports. One research analyst rated the stock with a sell rating, seven gave the company a hold rating and eight issued a buy rating. The 1-year average price target among analysts who have reported on the stock in the past year is $89.85.
A number of research companies have published reports on STX. Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a Friday, July 22 research note. Susquehanna Bancshares cut its price target on Seagate Technology from $67.00 to $58.00 and set a “negative” rating for the company in a Friday, July 22 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Seagate Technology from $82.00 to $75.00 in a Friday, July 22 research note. Craig Hallum downgraded Seagate Technology from a “buy” rating to a “hold” rating and reduced his price target for the company from $112.00 to $79.00 in a Wednesday, August 3 research note. Finally, Wedbush reduced its price target on Seagate Technology from $85.00 to $75.00 in a Friday, July 22 research note.
Seagate Technology Institutional Trade
Several hedge funds have recently changed their STX holdings. Sanders Capital LLC increased its equity stake in Seagate Technology by 325.4% during the 4th quarter. Sanders Capital LLC now owns 3,998,452 shares of the data storage provider worth $501,232,000 after acquiring 3,058,553 additional shares in the last quarter. Norges Bank purchased a new stake in Seagate Technology stock during Q4 for a value of approximately $221,348,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new equity stake in Seagate Technology during Q2 for a value of approximately $83,163,000. Bank of New York Mellon Corp increased its stake in Seagate Technology shares by 41.1% in the first quarter. Bank of New York Mellon Corp now owns 3,898,164 shares of the data storage provider worth $350,445,000 after acquiring 1,134,751 additional shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Seagate Technology stock during Q4 for a value of approximately $108,404,000. 87.48% of the shares are held by hedge funds and other institutional investors.
Seagate Technology trades up 3.9%
Seagate Technology stock opened Thursday at $80.34. The company has a 50-day simple moving average of $76.87 and a two-hundred-day simple moving average of $87.06. The company has a market capitalization of $17.26 billion, a P/E ratio of 10.95, a P/E/G ratio of 9.32 and a beta of 1.07. Seagate Technology has a 52-week low of $67.36 and a 52-week high of $117.67. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt ratio of 46.44.
Seagate Technology (NASDAQ:STX – Get Rating) last released its quarterly results on Thursday, July 21. The data storage provider reported earnings per share (EPS) of $1.59 for the quarter, missing analyst consensus estimates of $1.76 per ($0.17). Seagate Technology achieved a net margin of 14.14% and a return on equity of 412.90%. During the same period of the previous year, the company achieved EPS of $1.92. Analysts expect Seagate Technology to post EPS of 7.18 for the current year.
Seagate Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5. Shareholders of record on Wednesday, September 21 will receive a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 20. This represents an annualized dividend of $2.80 and a dividend yield of 3.49%. Seagate Technology’s dividend payout ratio (DPR) is 38.15%.
About Seagate Technology
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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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