Seagate Technology Holdings plc (NASDAQ:STX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Seagate Technology Holdings plc (NASDAQ:STX) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $121.00.

STX has been the subject of a number of research reports. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Mizuho cut their price objective on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Bank of America decreased their target price on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group reduced their price target on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th.

Seagate Technology Trading Down 0.1 %

Shares of NASDAQ STX opened at $88.27 on Tuesday. The firm has a market cap of $18.69 billion, a P/E ratio of 16.14 and a beta of 1.01. The business’s 50 day moving average is $96.32 and its 200-day moving average is $98.78. Seagate Technology has a 1-year low of $82.31 and a 1-year high of $115.32.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 3.26%. Seagate Technology’s payout ratio is 52.65%.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in STX. Ameriflex Group Inc. bought a new stake in shares of Seagate Technology in the 4th quarter valued at $26,000. Elequin Capital LP acquired a new stake in Seagate Technology in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC acquired a new stake in Seagate Technology in the fourth quarter worth $27,000. Advisors Asset Management Inc. increased its stake in Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Seagate Technology during the third quarter valued at about $53,000. 92.87% of the stock is currently owned by 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.