Seagate Technology (NASDAQ:STX) Price Target Raised to $105.00

Seagate Technology (NASDAQ:STX) had its target price hoisted by Barclays from $95.00 to $105.00 in a report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the data storage provider’s stock.

STX has been the topic of a number of other research reports. Evercore ISI increased their price objective on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Citigroup upped their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Stock Down 0.2 %

STX stock opened at $108.19 on Wednesday. The firm has a 50 day moving average of $95.00 and a two-hundred day moving average of $100.42. Seagate Technology has a 12 month low of $82.31 and a 12 month high of $115.32. The company has a market capitalization of $22.89 billion, a price-to-earnings ratio of 19.78 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted ($0.34) earnings per share. The business’s quarterly revenue was up 49.1% on a year-over-year basis. On average, research analysts expect that Seagate Technology will post 6.92 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 2.66%. Seagate Technology’s dividend payout ratio is currently 52.65%.

Insider Buying and Selling

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 642,497 shares in the company, valued at $63,947,726.41. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,073 shares of company stock worth $5,106,149 in the last 90 days. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Blair William & Co. IL bought a new position in shares of Seagate Technology in the second quarter worth about $314,000. Canada Pension Plan Investment Board increased its holdings in shares of Seagate Technology by 96,580.0% in the second quarter. Canada Pension Plan Investment Board now owns 9,668 shares of the data storage provider’s stock valued at $998,000 after purchasing an additional 9,658 shares in the last quarter. Sei Investments Co. raised its position in Seagate Technology by 33.7% in the 2nd quarter. Sei Investments Co. now owns 14,484 shares of the data storage provider’s stock worth $1,496,000 after purchasing an additional 3,647 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Seagate Technology by 26.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 10,475 shares of the data storage provider’s stock worth $1,081,000 after buying an additional 2,165 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after buying an additional 337 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

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.