Retirement Systems of Alabama Sells 735 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Retirement Systems of Alabama trimmed its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,875 shares of the data storage provider’s stock after selling 735 shares during the quarter. Retirement Systems of Alabama’s holdings in Seagate Technology were worth $3,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Paradigm Financial Partners LLC bought a new stake in Seagate Technology during the fourth quarter valued at approximately $200,000. Bank OZK purchased a new stake in shares of Seagate Technology in the 4th quarter worth $226,000. Bryn Mawr Capital Management LLC bought a new position in Seagate Technology in the 4th quarter worth $248,000. State of New Jersey Common Pension Fund D lifted its position in Seagate Technology by 8.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 112,446 shares of the data storage provider’s stock valued at $9,600,000 after purchasing an additional 8,288 shares in the last quarter. Finally, Carret Asset Management LLC bought a new stake in Seagate Technology during the fourth quarter valued at about $231,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on STX shares. Susquehanna lifted their price objective on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. UBS Group increased their price objective on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their target price on shares of Seagate Technology from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. TD Cowen increased their price target on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Cantor Fitzgerald boosted their price objective on Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.53.

Seagate Technology Stock Performance

STX stock opened at $89.51 on Wednesday. The firm has a market cap of $18.80 billion, a PE ratio of -69.39, a price-to-earnings-growth ratio of 242.66 and a beta of 1.06. The firm has a fifty day moving average price of $89.18 and a 200 day moving average price of $83.96. Seagate Technology Holdings plc has a fifty-two week low of $55.11 and a fifty-two week high of $101.26.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the business earned ($0.43) earnings per share. The business’s quarterly revenue was down 11.0% on a year-over-year basis. On average, equities analysts predict that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 3.13%. Seagate Technology’s payout ratio is currently -217.05%.

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.