Retirement Systems of Alabama Buys 3,135 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Retirement Systems of Alabama lifted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,213 shares of the data storage provider’s stock after acquiring an additional 3,135 shares during the quarter. Retirement Systems of Alabama’s holdings in Seagate Technology were worth $5,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in STX. Sequoia Financial Advisors LLC boosted its holdings in Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after purchasing an additional 89 shares during the last quarter. Affinity Capital Advisors LLC grew its holdings in shares of Seagate Technology by 1.5% in the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock valued at $725,000 after acquiring an additional 100 shares in the last quarter. Forum Financial Management LP increased its position in shares of Seagate Technology by 4.0% during the second quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock valued at $333,000 after acquiring an additional 125 shares during the last quarter. Pinnacle West Asset Management Inc. lifted its holdings in Seagate Technology by 2.5% during the second quarter. Pinnacle West Asset Management Inc. now owns 5,190 shares of the data storage provider’s stock worth $536,000 after acquiring an additional 125 shares during the period. Finally, Ballentine Partners LLC boosted its position in Seagate Technology by 3.6% in the third quarter. Ballentine Partners LLC now owns 3,671 shares of the data storage provider’s stock worth $402,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX stock opened at $91.60 on Thursday. The company has a market capitalization of $19.38 billion, a PE ratio of 23.92 and a beta of 1.03. Seagate Technology Holdings plc has a 52-week low of $79.39 and a 52-week high of $115.32. The business’s fifty day moving average is $101.72 and its 200 day moving average is $102.19.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. On average, sell-side analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 3.14%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is 75.20%.

Analyst Upgrades and Downgrades

STX has been the topic of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Northland Securities raised their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities upped their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.83.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,961 shares of company stock valued at $23,967,629. Insiders own 0.81% of the company’s stock.

Seagate Technology Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.