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

Seagate Technology Holdings plc (NASDAQ:STX – Get Rating ) has been assigned an average recommendation of “Hold” from the twenty-eight ratings firms that are covering the stock, MarketBeat.com reports. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $69.50.

STX has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of Seagate Technology from $120.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, September 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Seagate Technology from $60.00 to $55.00 in a research note on Thursday, October 27th. Susquehanna reduced their price objective on shares of Seagate Technology from $40.00 to $38.00 in a research note on Thursday, October 27th. Mizuho reduced their price objective on shares of Seagate Technology from $75.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, October 27th. Finally, TheStreet lowered shares of Seagate Technology from a “b-” rating to a “c” rating in a research note on Wednesday, October 26th.

Price performance of Seagate technology

Shares of NASDAQ:STX opened at $54.57 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.19 and a debt-to-equity ratio of 46.44. The company has a market cap of $11.27 billion, a P/E ratio of 10.49, a PEG ratio of 22.37 and a beta of 1.09. Seagate Technology has a 52-week low of $47.47 and a 52-week high of $117.67. The company has a 50-day moving average of $55.34 and a 200-day moving average of $69.86.

Seagate Technology (NASDAQ:STX – Get Rating ) last posted its quarterly earnings results 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 company had revenue of $2.04 billion for the quarter, compared to analysts’ estimates of $2.11 billion. In the same quarter last year, the business reported $2.27 earnings per share. Seagate Technology’s revenue was down 34.7% year over year. analysts predict that Seagate Technology will post 1.99 earnings per share for the current year.

Seagate Technology announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Wednesday, December 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, December 20th. This represents a $2.80 annual dividend and a dividend yield of 5.13%. Seagate Technology’s payout ratio is 53.85%.

Hedge funds weigh in on Seagate technology

Several hedge funds and other institutional investors have recently made changes to their positions in STX. Oakworth Capital Inc. acquired a new position in Seagate Technology in the second quarter valued at $29,000. Hallmark Capital Management Inc. purchased a new stake in shares of Seagate Technology in the second quarter worth about $32,000. Ronald Blue Trust Inc. bought a new stake in shares of Seagate Technology in the second quarter worth about $33,000. West Branch Capital LLC bought a new stake in shares of Seagate Technology in the second quarter worth about $35,000. Finally, Janiczek Wealth Management LLC increased its position in shares of of Seagate Technology by 286.4% in the second quarter. Janiczek Wealth Management LLC now owns 541 shares of the data storage provider’s stock valued at $43,000 after purchasing an additional 401 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s shares.

Seagate Technology Company Profile

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Seagate Technology Holdings plc provides storage technology and solutions in Singapore, the United States, the Netherlands and internationally. It provides mass-capacity storage products, including enterprise near-hard disk drives (HDDs), enterprise near-hard disk drives (SSDs), enterprise near-field systems, video and imaging HDDs, and network storage devices.

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Analyst Recommendations for Seagate Technology (NASDAQ:STX)

This instant news alert is generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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