New York State Teachers Retirement System Grows Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

New York State Teachers Retirement System raised its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,239 shares of the data storage provider’s stock after buying an additional 4,659 shares during the period. New York State Teachers Retirement System owned about 0.08% of Seagate Technology worth $19,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in STX. Vanguard Group Inc. boosted its stake in Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after buying an additional 746,395 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Seagate Technology by 14.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after purchasing an additional 337,464 shares during the last quarter. Duquesne Family Office LLC lifted its stake in Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Seagate Technology by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after buying an additional 9,062 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Seagate Technology by 6.2% during the first quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock valued at $64,130,000 after buying an additional 40,100 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 1.3 %

Shares of STX opened at $99.11 on Friday. Seagate Technology Holdings plc has a twelve month low of $70.31 and a twelve month high of $115.32. The company has a market capitalization of $20.96 billion, a P/E ratio of 25.88 and a beta of 1.04. The firm has a 50 day moving average of $104.91 and a 200 day moving average of $100.04.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned ($0.34) EPS. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. On average, sell-side analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 2.91%. Seagate Technology’s payout ratio is 73.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. TD Cowen increased their target price on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Loop Capital raised their target price on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group upped their price target on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insider Buying and Selling at Seagate Technology

In other news, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at $804,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,398 shares of company stock worth $23,238,106. Company 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.