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Seagate Technology Holdings plc (NASDAQ:STX) Receives Consensus Rating of “Hold” from Brokerages


Seagate Technology Holdings plc (NASDAQ:STXGet Rating) has received an average rating of “Hold” from the twenty-eight ratings firms that are currently covering the firm, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $69.50.

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Seagate Technology from $60.00 to $55.00 in a report on Thursday, October 27th. UBS Group cut shares of Seagate Technology from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $55.00 in a research report on Thursday, October 27th. Susquehanna Bancshares dropped their target price on shares of Seagate Technology from $40.00 to $38.00 in a research report on Thursday, October 27th. Morgan Stanley dropped their target price on shares of Seagate Technology from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, October 27th. Finally, Barclays lowered their price objective 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 Trading Up 4.5 %

Shares of NASDAQ STX opened at $55.91 on Friday. Seagate Technology has a 12-month low of $47.47 and a 12-month high of $117.03. The company has a current ratio of 1.19, a quick ratio of 0.68 and a debt-to-equity ratio of 46.44. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth 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:STXGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The data storage provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Seagate Technology had a net margin of 10.89% and a return on equity of 716.97%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $2.27 EPS. Seagate Technology’s revenue for the quarter was down 34.7% on a year-over-year basis. Equities research analysts expect that Seagate Technology will post 1.47 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Wednesday, December 21st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend was Tuesday, December 20th. Seagate Technology’s dividend payout ratio (DPR) is presently 53.85%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Seagate Technology by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 3,923,276 shares of the data storage provider’s stock valued at $208,837,000 after acquiring an additional 46,507 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Seagate Technology during the 3rd quarter worth approximately $16,411,000. CENTRAL TRUST Co grew its stake in shares of Seagate Technology by 50.0% during the 3rd quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider’s stock worth $48,000 after purchasing an additional 300 shares during the period. Advisors Capital Management LLC lifted its position in shares of Seagate Technology by 14.6% during the 3rd quarter. Advisors Capital Management LLC now owns 255,993 shares of the data storage provider’s stock valued at $14,435,000 after buying an additional 32,616 shares in the last quarter. Finally, Tealwood Asset Management Inc. lifted its holdings in Seagate Technology by 0.9% in the 3rd quarter. Tealwood Asset Management Inc. now owns 28,984 shares of the data storage provider’s stock valued at $1,543,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 82.69% of the company’s stock.

Seagate Technology Company Profile

(Get Rating)

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.

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Analyst Recommendations for Seagate Technology (NASDAQ:STX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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