Seagate Technology (NASDAQ:STX) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a buy rating in a research note released on Wednesday morning.

Several other equities analysts have also weighed in on the stock. Barclays lifted their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Evercore ISI lifted their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Bank of America raised their target price on Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Citigroup lifted their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group increased their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $95.43 on Wednesday. The company has a market cap of $20.20 billion, a PE ratio of 17.45 and a beta of 1.07. The business has a 50-day simple moving average of $94.71 and a two-hundred day simple moving average of $99.92. Seagate Technology has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.02%. Seagate Technology’s dividend payout ratio (DPR) is 52.65%.

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the sale, the chief executive officer now directly owns 622,497 shares in the company, valued at $64,011,366.51. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,073 shares of company stock worth $3,115,549. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in Seagate Technology in the 3rd quarter valued at approximately $26,000. Advisors Asset Management Inc. increased its holdings in Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in shares of Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after buying an additional 293 shares during the period. Human Investing LLC bought a new position in shares of Seagate Technology in the 4th quarter worth about $48,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Seagate Technology in the third quarter valued at $53,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.