Seagate Technology (NASDAQ:STX) Sets New 52-Week Low at $68.13

Seagate Technology Holdings plc (NASDAQ:STXGet Rating) reached a new 52-week low during trading on Friday . The company traded as low as $68.13 and last traded at $68.13, with a volume of 12555 shares trading hands. The stock had previously closed at $71.44.

A number of research analysts recently commented on STX shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Seagate Technology from $110.00 to $95.00 and set a “hold” rating on the stock in a research note on Tuesday, April 19th. Susquehanna lifted their price target on shares of Seagate Technology from $65.00 to $67.00 in a research report on Thursday, April 28th. Wedbush decreased their price target on shares of Seagate Technology from $95.00 to $85.00 in a research report on Monday, April 25th. Morgan Stanley decreased their price target on shares of Seagate Technology from $101.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 31st. Finally, Susquehanna Bancshares lifted their price target on shares of Seagate Technology from $65.00 to $67.00 in a research report on Thursday, April 28th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

The business’s 50 day simple moving average is $80.05 and its 200-day simple moving average is $93.55. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 7.78 and a beta of 1.00. The company has a debt-to-equity ratio of 13.33, a quick ratio of 0.96 and a current ratio of 1.48.

Seagate Technology (NASDAQ:STXGet Rating) last issued its earnings results on Wednesday, April 27th. The data storage provider reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.03). The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. Seagate Technology had a net margin of 15.40% and a return on equity of 339.73%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $1.36 EPS. Research analysts expect that Seagate Technology Holdings plc will post 7.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 7th. Shareholders of record on Friday, June 24th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Thursday, June 23rd. Seagate Technology’s dividend payout ratio (DPR) is currently 34.40%.

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Seagate Technology by 7.8% in the 1st quarter. JPMorgan Chase & Co. now owns 12,957,187 shares of the data storage provider’s stock valued at $1,164,852,000 after purchasing an additional 939,313 shares during the last quarter. State Street Corp lifted its stake in shares of Seagate Technology by 2.5% in the 4th quarter. State Street Corp now owns 9,367,384 shares of the data storage provider’s stock valued at $1,064,798,000 after purchasing an additional 230,667 shares during the last quarter. Sanders Capital LLC lifted its position in Seagate Technology by 31.1% during the 1st quarter. Sanders Capital LLC now owns 5,240,802 shares of the data storage provider’s stock worth $517,577,000 after acquiring an additional 1,242,350 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Seagate Technology by 41.1% during the 1st quarter. Bank of New York Mellon Corp now owns 3,898,164 shares of the data storage provider’s stock worth $350,445,000 after acquiring an additional 1,134,751 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Seagate Technology by 24.0% during the 4th quarter. Allianz Asset Management GmbH now owns 2,452,197 shares of the data storage provider’s stock worth $277,050,000 after acquiring an additional 473,901 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Company Profile (NASDAQ:STX)

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

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