Seagate upgraded to Buy from Hold at Craig-Hallum Craig-Hallum upgraded Seagate based on reduced investor expectations and subsequent inventory correction with no material change in pricing. Price target raised to $40 from $28.
Seagate increases targeted annual dividend 26% to $2.16 Seagate Technology announced that its board of directors has approved a 26% increase in the company’s targeted regular cash dividend. The targeted annual dividend will increase from $1.72 to $2.16 per share and will continue to be paid quarterly. The first payment at the new quarterly rate of 54c per share is scheduled to be paid on November 25 to stockholders of record as of the close of business on November 11. The declaration and payment of any future quarterly dividends will continue to be at the discretion of the board of directors and will be dependent upon Seagate’s financial position, results of operations, available cash, cash flow, capital requirements and other factors deemed relevant by the board