Seagate Technology (NASDAQ:STX) Sets New 12-Month High – Should You Buy?

Shares of Seagate Technology Holdings plc (NASDAQ:STX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $115.32 and last traded at $113.54, with a volume of 414758 shares traded. The stock had previously closed at $111.06.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on STX. The Goldman Sachs Group raised their price target on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. TD Cowen increased their price objective on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wedbush boosted their target price on Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company increased their price target on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Seagate Technology presently has an average rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Trading Down 0.1 %

The stock has a market capitalization of $23.52 billion, a PE ratio of 72.55 and a beta of 1.04. The firm’s 50-day simple moving average is $103.64 and its two-hundred day simple moving average is $98.86.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) EPS. As a group, research analysts expect that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.51%. Seagate Technology’s dividend payout ratio is presently 181.82%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now owns 5,387 shares in the company, valued at $592,570. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at $592,570. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 223,284 shares of company stock valued at $23,800,887 in the last quarter. Company insiders own 0.81% of the company’s stock.

Institutional Trading of Seagate Technology

Several large investors have recently made changes to their positions in STX. CWM LLC lifted its holdings in Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after purchasing an additional 97 shares during the last quarter. Affinity Capital Advisors LLC lifted its stake in shares of Seagate Technology by 1.5% in the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after buying an additional 100 shares during the last quarter. Csenge Advisory Group boosted its holdings in shares of Seagate Technology by 1.4% during the 1st quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after buying an additional 119 shares during the period. Kingswood Wealth Advisors LLC grew its stake in Seagate Technology by 3.7% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock valued at $357,000 after buying an additional 122 shares during the last quarter. Finally, Burney Co. raised its holdings in Seagate Technology by 3.3% in the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock worth $367,000 after acquiring an additional 125 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology 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.