Analysts Set Seagate Technology Holdings plc (NASDAQ:STX) PT at $115.94

Seagate Technology Holdings plc (NASDAQ:STX) has been assigned an average rating of “Hold” from the twenty research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $115.94.

A number of equities analysts have issued reports on the stock. Loop Capital boosted their price objective on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird boosted their price target on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Susquehanna upped their target price on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Finally, Evercore ISI boosted their price objective on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th.

Seagate Technology Price Performance

STX opened at $112.41 on Friday. Seagate Technology has a 1 year low of $64.12 and a 1 year high of $115.32. The stock’s 50 day simple moving average is $104.63 and its 200 day simple moving average is $99.37. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 72.99 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.29) earnings per share. As a group, sell-side analysts anticipate that Seagate Technology will post 7.09 EPS for the current year.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 223,284 shares of company stock worth $23,800,887. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after buying an additional 746,395 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Seagate Technology by 14.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after purchasing an additional 337,464 shares during the period. Duquesne Family Office LLC increased its position in shares of Seagate Technology by 22.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after purchasing an additional 316,295 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Seagate Technology by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after purchasing an additional 9,062 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Seagate Technology by 6.2% in the 1st quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock worth $64,130,000 after purchasing an additional 40,100 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.