Seagate Technology (NASDAQ:STX) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Seagate Technology (NASDAQ:STX) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $120.00 price objective on the data storage provider’s stock. Cantor Fitzgerald also issued estimates for Seagate Technology’s FY2025 earnings at $6.75 EPS.

STX has been the subject of a number of other reports. The Goldman Sachs Group cut their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Morgan Stanley reduced their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday. Barclays upped their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday. UBS Group lifted their price objective on Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Rosenblatt Securities increased their target price on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Price Performance

NASDAQ STX opened at $108.19 on Wednesday. The company’s fifty day moving average is $95.00 and its two-hundred day moving average is $100.42. The firm has a market capitalization of $22.89 billion, a price-to-earnings ratio of 19.78 and a beta of 1.06. Seagate Technology has a 52-week low of $82.31 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company posted ($0.34) earnings per share. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. As a group, sell-side analysts expect that Seagate Technology will post 6.92 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is 52.65%.

Insider Transactions at Seagate Technology

In related news, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the sale, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,073 shares of company stock valued at $5,106,149 over the last three months. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in shares of Seagate Technology by 133.8% in the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after buying an additional 98,418 shares in the last quarter. Versor Investments LP acquired a new stake in Seagate Technology in the third quarter valued at $2,146,000. Lighthouse Investment Partners LLC bought a new position in shares of Seagate Technology in the 2nd quarter valued at about $499,000. Forte Capital LLC ADV increased its stake in shares of Seagate Technology by 29.8% during the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after purchasing an additional 6,653 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Seagate Technology by 3,549.7% in the 3rd quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock valued at $22,398,000 after purchasing an additional 198,890 shares during the period. Institutional investors and hedge funds 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.