New York State Teachers Retirement System Sells 4,660 Shares of Seagate Technology Holdings PLC $STX

New York State Teachers Retirement System lessened its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,053 shares of the data storage provider’s stock after selling 4,660 shares during the period. New York State Teachers Retirement System owned about 0.08% of Seagate Technology worth $42,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology during the second quarter valued at approximately $27,000. Rakuten Securities Inc. lifted its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the period. MTM Investment Management LLC bought a new stake in Seagate Technology in the second quarter valued at $29,000. GoalVest Advisory LLC increased its position in Seagate Technology by 30.6% during the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 75 shares during the period. Finally, Trust Co. of Toledo NA OH bought a new position in Seagate Technology in the 2nd quarter worth $57,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total value of $15,404,628.36. Following the transaction, the chief financial officer owned 56,293 shares in the company, valued at $16,052,511.88. The trade was a 48.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the sale, the director directly owned 5,601 shares in the company, valued at $1,528,568.91. This trade represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 131,145 shares of company stock valued at $36,425,168. Company insiders own 0.79% of the company’s stock.

Seagate Technology Stock Performance

STX stock opened at $304.01 on Monday. The firm has a 50 day moving average price of $278.12 and a 200-day moving average price of $217.71. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $332.00. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 1.19 and a beta of 1.60.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were paid a dividend of $0.74 per share. The ex-dividend date was Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a yield of 1.0%. Seagate Technology’s dividend payout ratio (DPR) is presently 38.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STX shares. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Cantor Fitzgerald lifted their price objective on Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Wedbush upped their target price on Seagate Technology from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Wells Fargo & Company raised their target price on Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Finally, Bank of America lifted their price target on Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $293.13.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.