Stocks of Seagate Technology Holdings plc (NASDAQ:STX) traded higher last session on Wall Street, down -1.75% to $58.24.
According to the data, Seagate Technology Holdings plc (NASDAQ:STX) has 24 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $78.00 and a low of $33.00, we find $65.00. Given the previous closing price of $59.28, this indicates a potential upside of 9.65 percent. STX stock price is now -4.97% away from the 50-day moving average and -1.96% away from the 200-day moving average. The market capitalization of the company currently stands at $12.00B.
A total of 13 analysts have issued a hold rating and 7 have given it a buy rating. Brokers who have rated the stock have averaged $63.56 as their price target over the next twelve months.
With the price target reduced from $65 to $60, UBS maintained Neutral rating for Seagate Technology Holdings plc (NASDAQ: STX).
In other news, SCHUELKE KATHERINE, SVP, CLO & Corporate Secretary sold 3,487 shares of the company’s stock on May 26. The stock was sold for $216,508 at an average price of $62.09. Upon completion of the transaction, the SVP, CLO & Corporate Secretary now directly owns 28,658 shares in the company, valued at $1.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 01, EVP, Operations and Technology Nygaard Jeffrey D. sold 36,809 shares of the business’s stock. A total of $2,544,867 was realized by selling the stock at an average price of $69.14. This leaves the insider owning 30,360 shares of the company worth $1.77 million. Insiders disposed of 231,644 shares of company stock worth roughly $13.49 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in STX stock. A new stake in Seagate Technology Holdings plc shares was purchased by WELLINGTON MANAGEMENT GROUP LLP during the first quarter worth $216,131,000. DAVIDSON KEMPNER PARTNERS invested $20,384,000 in shares of STX during the first quarter. In the first quarter, BAUPOST GROUP LLC/MA acquired a new stake in Seagate Technology Holdings plc valued at approximately $7,925,000. TORONTO DOMINION BANK acquired a new stake in STX for approximately $7,196,000. TWIN TREE MANAGEMENT, LP purchased a new stake in STX valued at around $5,466,000 in the second quarter. In total, there are 957 active investors with 87.80% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $58.97 for Seagate Technology Holdings plc (NASDAQ: STX). During the past 12 months, Seagate Technology Holdings plc has had a low of $47.47 and a high of $83.64. The fifty day moving average price for STX is $61.32 and a two-hundred day moving average price translates $59.41 for the stock.
The latest earnings results from Seagate Technology Holdings plc (NASDAQ: STX) was released for Mar, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.28, missing analysts’ expectations of $0.21 by -0.49. This compares to $1.56 EPS in the same period last year. The net profit margin was -1.90% and return on equity was 37.50% for STX. The company reported revenue of $1.86 billion for the quarter, compared to $2.8 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -33.62 percent. For the current quarter, analysts expect STX to generate $1.69B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/05/2023. Investors who held shares on 06/21/2023 were paid a $0.70 dividend. On an annualized basis, this represents a $2.80 dividend and a 4.81% percent yield. There was an ex-dividend date of 06/20/2023 for this dividend. In terms of dividend payout ratio, STX is presently at 36.63%.
Seagate Technology Holdings plc(STX) Company Profile
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. The company also offers legacy applications comprising Mission Critical HDDs and SSDs; external storage solutions under the Seagate Ultra Touch, One Touch, and Expansion product lines, as well as under the LaCie brand name; desktop drives; notebook drives, DVR HDDs, and gaming SSDs. In addition, it provides Lyve edge-to-cloud mass capacity platform. The company sells its products primarily to OEMs, distributors, and retailers. Seagate Technology Holdings plc was founded in 1978 and is based in Dublin, Ireland.
