Seagate Technology’s (STX) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Seagate Technology (NASDAQ:STX) in a research note released on Wednesday, Benzinga reports. They currently have a $125.00 target price on the data storage provider’s stock.

A number of other equities analysts also recently commented on STX. Loop Capital boosted their price objective on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group upped their price target on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their price target on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Citigroup upped their price target on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Hold” and an average target price of $118.83.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $103.01 on Wednesday. The firm has a market capitalization of $21.63 billion, a price-to-earnings ratio of -79.85 and a beta of 1.04. The stock has a 50 day moving average price of $105.16 and a 200 day moving average price of $99.68. Seagate Technology has a 52-week low of $64.12 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 30.18%. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. Analysts forecast that Seagate Technology will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.80%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, 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 three months, insiders have sold 218,398 shares of company stock valued at $23,238,106. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds have recently modified their holdings of the company. JFS Wealth Advisors LLC boosted its stake in shares of Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares in the last quarter. SteelPeak Wealth LLC increased its position in shares of Seagate Technology by 541.3% during the third quarter. SteelPeak Wealth LLC now owns 14,160 shares of the data storage provider’s stock worth $1,561,000 after purchasing an additional 11,952 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in Seagate Technology by 18.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,163 shares of the data storage provider’s stock valued at $894,000 after buying an additional 1,259 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Seagate Technology by 2.7% in the 3rd quarter. New York State Teachers Retirement System now owns 175,239 shares of the data storage provider’s stock valued at $19,194,000 after buying an additional 4,659 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in Seagate Technology in the 3rd quarter valued at $202,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.