California Public Employees Retirement System Grows Position in Seagate Technology Holdings plc (NASDAQ:STX)

California Public Employees Retirement System increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 392,701 shares of the data storage provider’s stock after buying an additional 18,443 shares during the period. California Public Employees Retirement System owned about 0.19% of Seagate Technology worth $33,525,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in STX. JPMorgan Chase & Co. lifted its holdings in Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after acquiring an additional 1,485,937 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Seagate Technology by 8.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after acquiring an additional 561 shares during the period. Gotham Asset Management LLC lifted its holdings in Seagate Technology by 51.1% in the third quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock valued at $5,717,000 after acquiring an additional 29,323 shares during the period. SG Americas Securities LLC lifted its holdings in Seagate Technology by 78.4% in the fourth quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock valued at $3,292,000 after acquiring an additional 16,950 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Seagate Technology by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 13,293 shares of the data storage provider’s stock valued at $1,144,000 after buying an additional 630 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 1.4 %

Shares of NASDAQ STX opened at $86.04 on Friday. Seagate Technology Holdings plc has a twelve month low of $54.47 and a twelve month high of $101.26. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of -66.70, a price-to-earnings-growth ratio of 480.77 and a beta of 1.04. The business has a 50 day simple moving average of $89.25 and a 200-day simple moving average of $82.81.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm posted ($0.43) earnings per share. Seagate Technology’s revenue was down 11.0% compared to the same quarter last year. As a group, equities analysts predict that Seagate Technology Holdings plc will post 0.15 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Analysts Set New Price Targets

STX has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday. BNP Paribas cut Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target for the company. in a research report on Thursday, January 11th. Robert W. Baird raised their price target on Seagate Technology from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Evercore ISI initiated coverage on Seagate Technology in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $94.53.

About Seagate Technology

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.