Sat Sep 21 11:40:47 UTC 2024: ## Seagate Technology Declares Quarterly Dividend, Analysts Remain Optimistic

**SAN FRANCISCO, CA – September 21, 2024** – Seagate Technology Holdings plc (NASDAQ: STX), a leading data storage provider, announced a quarterly dividend of $0.70 per share, payable on October 7th to shareholders of record as of September 23rd. This represents an annualized dividend of $2.80, yielding 2.67%. The ex-dividend date is September 23rd.

The company has consistently increased its dividend by an average of 2.2% annually over the past three years. With a payout ratio of 40.7%, Seagate’s dividend is well-covered by its earnings. Analysts anticipate the company to earn $9.95 per share next year, suggesting the dividend remains sustainable with an expected future payout ratio of 28.1%.

Seagate’s stock opened at $104.74 on Friday, having a 1-year low of $63.32 and a 1-year high of $113.57. The company boasts a market cap of $22.05 billion, a price-to-earnings ratio of -81.19, and a beta of 1.03.

Recent analyst commentary has been positive. Robert W. Baird upgraded Seagate to “outperform” with a price target of $120.00, while UBS Group maintained a “neutral” rating but increased its price target to $120.00. Other analysts like Northland Securities and Wedbush also upgraded their price targets. Overall, analysts currently give Seagate an average rating of “Hold” with a consensus target price of $115.94.

In recent insider transactions, Director Yolanda Lee Conyers sold 750 shares for $72,075.00, while EVP Ban Seng Teh sold 10,117 shares for $1,112,870.00. Over the past 90 days, insiders have sold 56,627 shares worth $5,489,495.00, representing 0.89% of the company’s stock.

Seagate Technology provides data storage technology and solutions globally, focusing on mass capacity storage products like HDDs, SSDs, and systems.

**Disclaimer:** This news article is based on information provided by MarketBeat News and does not constitute investment advice. Readers should consult with a qualified financial professional before making any investment decisions.

Read More