Seagate Technology Holdings PLC (NASDAQ:STX) Declares $0.74 Quarterly Dividend

Seagate Technology Holdings PLC (NASDAQ:STX) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Thursday, September 24th will be given a dividend of 0.74 per share by the data storage provider on Wednesday, October 7th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 24th.

Seagate Technology has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Seagate Technology has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Seagate Technology to earn $26.84 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 11.0%.

Seagate Technology Stock Performance

Seagate Technology stock traded up $26.07 during mid-day trading on Wednesday, reaching $773.37. 1,640,259 shares of the company traded hands, compared to its average volume of 4,324,460. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The company has a market capitalization of $173.41 billion, a price-to-earnings ratio of 74.79 and a beta of 2.04. The firm’s fifty day moving average is $894.95 and its two-hundred day moving average is $618.98.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the company posted $2.59 earnings per share. The business’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts expect that Seagate Technology will post 14.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on STX shares. Sanford C. Bernstein raised their target price on Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group boosted their price target on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Rosenblatt Securities increased their price objective on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a report on Wednesday. BNP Paribas Exane increased their price objective on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Melius Research assumed coverage on Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price objective for the company. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $923.00.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.