Fintel reports that on April 21, 2023, Northland Capital Markets maintained coverage of Seagate Technology Holdings (NASDAQ:STX) with a Outperform recommendation.
Analyst Price Forecast Suggests 20.32% Upside
As of April 6, 2023, the average one-year price target for Seagate Technology Holdings is $68.68. The forecasts range from a low of $35.35 to a high of $86.10. The average price target represents an increase of 20.32% from its latest reported closing price of $57.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Seagate Technology Holdings is $7,975MM, a decrease of 5.17%. The projected annual non-GAAP EPS is $1.88.
Seagate Technology Holdings Declares $0.70 Dividend
On January 25, 2023 the company declared a regular quarterly dividend of $0.70 per share ($2.80 annualized). Shareholders of record as of March 22, 2023 received the payment on April 6, 2023. Previously, the company paid $0.70 per share.
At the current share price of $57.08 / share, the stock's dividend yield is 4.91%. Looking back five years and taking a sample every week, the average dividend yield has been 4.45%, the lowest has been 2.45%, and the highest has been 6.97%. The standard deviation of yields is 1.05 (n=236).
The current dividend yield is 0.43 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -3.59. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.08%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
Geneos Wealth Management holds 3K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 6K shares, representing a decrease of 65.51%. The firm decreased its portfolio allocation in STX by 99.95% over the last quarter.
JMNAX - JPMorgan Research Market Neutral Fund holds 24K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 30K shares, representing a decrease of 26.22%. The firm increased its portfolio allocation in STX by 7.25% over the last quarter.
SPDV - AAM S&P 500 High Dividend Value ETF holds 18K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 16K shares, representing an increase of 10.73%. The firm increased its portfolio allocation in STX by 28.83% over the last quarter.
Roberts Capital Advisors holds 5K shares representing 0.00% ownership of the company. No change in the last quarter.
Aufman Associates holds 107K shares representing 0.05% ownership of the company. In it's prior filing, the firm reported owning 109K shares, representing a decrease of 1.40%. The firm decreased its portfolio allocation in STX by 99.91% over the last quarter.
What is the Fund Sentiment?
There are 1250 funds or institutions reporting positions in Seagate Technology Holdings. This is an increase of 11 owner(s) or 0.89% in the last quarter. Average portfolio weight of all funds dedicated to STX is 0.20%, an increase of 15.63%. Total shares owned by institutions increased in the last three months by 3.29% to 202,426K shares. The put/call ratio of STX is 1.11, indicating a bearish outlook.
Seagate Technology Holdings Background Information
(This description is provided by the company.)
Seagate Technology crafts the datasphere, helping to maximize humanity's potential by innovating world-class, precision-engineered data storage and management solutions with a focus on sustainable partnerships.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.