Seagate Technology Holdings plc (NASDAQ: STX – Get Rating ) has received an average “hold” rating from the 28 rating firms currently covering the company, according to Marketbeat.com. Fourteen equity research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Brokers who have reported on the stock in the last year have an average 12-month price target of $69.50.
Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Seagate Technology from $60.00 to $55.00 in a report on Thursday, October 27th. UBS downgraded shares of Seagate Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $55.00 in a research note on Thursday, October 27th. Susquehanna Bancshares cut their price target on shares of Seagate Technology from $40.00 to $38.00 in a research report on Thursday, October 27th. Morgan Stanley lowered their price target on Seagate Technology from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 27th. Finally, Barclays cut their price target on shares of Seagate Technology from $65.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, October 27th.
Seagate Technology shares rose 4.5%
Nasdaq STX stock opened Friday at $55.91. Seagate Technology had a 12-month low of $47.47 and a 12-month high of $117.03. The company’s current ratio is 1.19, quick ratio is 0.68, and debt-to-equity ratio is 46.44. The company has a market capitalization of $11.54 billion, a P/E ratio of 10.75, a P/E ratio of 30.11, and a beta of 1.06. The stock’s 50-day simple moving average is $52.85, and its 200-day simple moving average is $62.84.
Seagate Technology (NASDAQ: STX – Rated ) last reported quarterly earnings data on Wednesday, October 26th. The data storage provider reported earnings per share (EPS) of $0.37 for the quarter, missing analysts’ consensus estimate of $0.52 ($0.15). Seagate Technology has a net profit margin of 10.89% and a return on equity of 716.97%. The company’s revenue for the quarter was $2.04 billion, compared with analyst estimates of $2.11 billion. In the same period last year, the business earned $2.27 per share. Seagate Technology’s revenue fell 34.7% year-over-year during the quarter. Equity research analysts expect Seagate Technology to report EPS of 1.47 for the year.
Seagate Technology Declares Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Wednesday, December 21 received a $0.70 dividend. This represents an annualized dividend of $2.80 and a dividend yield of 5.01%. The ex-dividend date for this dividend is Tuesday, December 20. Seagate Technology’s dividend payout ratio (DPR) currently stands at 53.85%.
Institutional inflows and outflows
Hedge funds have recently bought and sold the company’s shares. Bank of New York Mellon Corp increased its Seagate Technology stake by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 3,923,276 shares of the data storage provider worth $208,837,000 after acquiring an additional 46,507 shares last quarter. The Kentucky Teachers’ Retirement System acquired a new stake in Seagate Technology shares for approximately $16,411,000 in the third quarter. CENTRAL TRUST Co increased its Seagate Technology stake by 50.0% during the third quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider, worth $48,000, after purchasing an additional 300 shares during that period. Advisors Capital Management LLC boosted its Seagate Technology stock position by 14.6% in the third quarter. Advisors Capital Management LLC now owns 255,993 shares of the data storage provider worth $14,435,000 after purchasing an additional 32,616 shares last quarter. Finally, Tealwood Asset Management. It boosted its stake in Seagate Technology by 0.9% in the third quarter. Tealwood Asset Management now owns 28,984 shares of the data storage provider worth $1,543,000 after buying an additional 257 shares last quarter. Institutional investors hold 82.69% of the company’s shares.
About Seagate Technology
Seagate Technology Holdings plc provides data storage technologies and solutions in Singapore, the United States, the Netherlands and internationally. It offers mass storage products including enterprise nearline hard disk drives (HDDs), enterprise nearline solid-state drives (SSDs), enterprise nearline systems, video and imaging HDDs, and network attached storage drives.
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