New York State Teachers Retirement System Purchases 4,659 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

New York State Teachers Retirement System grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 175,239 shares of the data storage provider’s stock after acquiring an additional 4,659 shares during the period. New York State Teachers Retirement System’s holdings in Seagate Technology were worth $19,194,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in STX. Quarry LP purchased a new position in Seagate Technology during the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Seagate Technology during the second quarter valued at about $41,000. Larson Financial Group LLC increased its holdings in shares of Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after purchasing an additional 473 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Seagate Technology in the third quarter worth about $55,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STX has been the topic of a number of research reports. Rosenblatt Securities lifted their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities boosted their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. TD Cowen increased their price objective on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Price Performance

STX stock opened at $99.11 on Friday. The company has a market capitalization of $20.96 billion, a PE ratio of 25.88 and a beta of 1.04. Seagate Technology Holdings plc has a 12 month low of $70.31 and a 12 month high of $115.32. The firm’s 50-day moving average is $104.91 and its 200 day moving average is $100.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The company’s revenue was up 49.1% on a year-over-year basis. Sell-side analysts forecast that Seagate Technology Holdings plc will post 7.35 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared 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. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.91%. Seagate Technology’s dividend payout ratio is presently 73.11%.

Insider Activity

In related news, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the completion of the sale, the chief financial officer now directly owns 52,620 shares of the company’s stock, valued at $4,974,694.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on 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 in the company, valued at approximately $61,148,074.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the sale, the chief financial officer now owns 52,620 shares of the company’s stock, valued at $4,974,694.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.