State of Alaska Department of Revenue Acquires Shares of 99,676 Seagate Technology Holdings plc (NASDAQ:STX)

State of Alaska Department of Revenue purchased a new position in Seagate Technology Holdings plc (NASDAQ:STXGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 99,676 shares of the data storage provider’s stock, valued at approximately $7,119,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STX. Syntax Advisors LLC grew its position in shares of Seagate Technology by 5.1% during the 1st quarter. Syntax Advisors LLC now owns 2,793 shares of the data storage provider’s stock worth $251,000 after buying an additional 136 shares during the period. Brighton Jones LLC grew its holdings in shares of Seagate Technology by 0.5% during the 1st quarter. Brighton Jones LLC now owns 28,271 shares of the data storage provider’s stock worth $2,542,000 after purchasing an additional 140 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of Seagate Technology by 0.5% during the 1st quarter. Clearstead Advisors LLC now owns 26,126 shares of the data storage provider’s stock worth $2,349,000 after purchasing an additional 141 shares in the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of Seagate Technology by 26.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 726 shares of the data storage provider’s stock worth $66,000 after buying an additional 154 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC lifted its position in shares of Seagate Technology by 5.5% during the 1st quarter. Balasa Dinverno & Foltz LLC now owns 2,952 shares of the data storage provider’s stock worth $265,000 after buying an additional 155 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Seagate Technology Trading Down 1.1 %

STX opened at $62.02 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 46.44. The firm has a market cap of $12.83 billion, a P/E ratio of 8.45, a P/E/G ratio of 10.47 and a beta of 1.11. Seagate Technology Holdings plc has a 12 month low of $61.36 and a 12 month high of $117.67. The stock has a 50-day moving average of $74.84 and a 200 day moving average of $80.00.

Seagate Technology (NASDAQ:STXGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The data storage provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.33). The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.80 billion. Seagate Technology had a return on equity of 412.90% and a net margin of 14.14%. During the same period in the previous year, the business earned $1.92 EPS. As a group, research analysts forecast that Seagate Technology Holdings plc will post 4.95 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 21st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Tuesday, September 20th. Seagate Technology’s dividend payout ratio is presently 38.15%.

Analyst Ratings Changes

STX has been the subject of several research reports. BNP Paribas began coverage on Seagate Technology in a research report on Tuesday, September 13th. They issued a “neutral” rating and a $70.00 target price for the company. Robert W. Baird reduced their price objective on Seagate Technology from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Barclays dropped their target price on Seagate Technology from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Thursday, September 1st. Benchmark lowered Seagate Technology from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Finally, Rosenblatt Securities dropped their price target on Seagate Technology from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and a consensus target price of $80.48.

About Seagate Technology

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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.

See Also

Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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