Public Employees Retirement Association of Colorado Makes New $1.83 Million Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Public Employees Retirement Association of Colorado bought a new stake in Seagate Technology Holdings plc (NASDAQ:STXFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,471 shares of the data storage provider’s stock, valued at approximately $1,833,000.

A number of other hedge funds have also recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in shares of Seagate Technology by 375.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 40,393 shares of the data storage provider’s stock worth $3,448,000 after purchasing an additional 31,897 shares during the last quarter. Capital Research Global Investors grew its stake in Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after buying an additional 4,685,454 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Seagate Technology by 12.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 77,549 shares of the data storage provider’s stock valued at $6,620,000 after acquiring an additional 8,790 shares during the period. Rafferty Asset Management LLC grew its position in shares of Seagate Technology by 7.5% during the fourth quarter. Rafferty Asset Management LLC now owns 60,810 shares of the data storage provider’s stock worth $5,191,000 after acquiring an additional 4,247 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in shares of Seagate Technology by 2.2% in the 4th quarter. CWA Asset Management Group LLC now owns 9,292 shares of the data storage provider’s stock valued at $793,000 after acquiring an additional 204 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

NASDAQ:STX opened at $96.11 on Monday. The firm has a 50 day simple moving average of $90.60 and a 200-day simple moving average of $87.67. Seagate Technology Holdings plc has a 1-year low of $57.32 and a 1-year high of $101.26.

Seagate Technology (NASDAQ:STXGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm posted ($0.43) earnings per share. The company’s revenue was down 11.0% on a year-over-year basis. As a group, research analysts expect that Seagate Technology Holdings plc will post 0.4 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is -217.05%.

Insider Buying and Selling at Seagate Technology

In related news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the transaction, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the transaction, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now owns 15,185 shares of the company’s stock, valued at $1,442,575. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on STX. Mizuho raised their price objective on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. UBS Group boosted their target price on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group increased their price target on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Finally, Wedbush raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.29.

Check Out Our Latest Stock Report on STX

About Seagate Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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