Public Employees Retirement System of Ohio Has $419,000 Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Public Employees Retirement System of Ohio cut its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,856 shares of the data storage provider’s stock after selling 736 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Seagate Technology were worth $419,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Elequin Capital LP acquired a new stake in Seagate Technology in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new stake in Seagate Technology in the fourth quarter valued at about $27,000. JFS Wealth Advisors LLC boosted its stake in Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after buying an additional 113 shares in the last quarter. Human Investing LLC acquired a new stake in Seagate Technology in the fourth quarter valued at about $48,000. Finally, Mizuho Bank Ltd. boosted its stake in Seagate Technology by 140.0% in the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider’s stock valued at $52,000 after buying an additional 350 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Shares of STX stock opened at $127.64 on Thursday. Seagate Technology Holdings plc has a fifty-two week low of $63.19 and a fifty-two week high of $127.69. The stock has a 50 day simple moving average of $91.63 and a two-hundred day simple moving average of $93.74. The company has a market cap of $27.09 billion, a P/E ratio of 23.33 and a beta of 1.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, research analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology declared that its board has authorized a stock buyback program on Thursday, May 22nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.26%. Seagate Technology’s dividend payout ratio (DPR) is presently 41.62%.

Insider Buying and Selling at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $117.01, for a total transaction of $87,757.50. Following the transaction, the director now owns 5,055 shares of the company’s stock, valued at $591,485.55. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 50,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $120.27, for a total value of $6,013,500.00. Following the transaction, the chief executive officer now directly owns 515,677 shares in the company, valued at approximately $62,020,472.79. The trade was a 8.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 233,641 shares of company stock valued at $26,252,721. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the topic of several research analyst reports. UBS Group raised their price objective on Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Morgan Stanley increased their target price on Seagate Technology from $99.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Bank of America increased their target price on Seagate Technology from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. BNP Paribas upgraded Seagate Technology from a “strong sell” rating to a “hold” rating in a research report on Friday, May 16th. Finally, BNP Paribas Exane upgraded Seagate Technology from an “underperform” rating to a “neutral” rating and set a $100.00 target price for the company in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.89.

Seagate Technology Company 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.