Teacher Retirement System of Texas bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,914 shares of the data storage provider's stock, valued at approximately $2,626,000.
Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Seagate Technology by 13.9% in the fourth quarter. Victory Capital Management Inc. now owns 195,880 shares of the data storage provider's stock valued at $16,906,000 after purchasing an additional 23,928 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Seagate Technology by 16.9% in the fourth quarter. Assetmark Inc. now owns 1,106 shares of the data storage provider's stock valued at $95,000 after purchasing an additional 160 shares in the last quarter. Atria Investments Inc raised its position in shares of Seagate Technology by 5.5% during the 4th quarter. Atria Investments Inc now owns 4,908 shares of the data storage provider's stock valued at $424,000 after acquiring an additional 255 shares during the last quarter. M&T Bank Corp raised its position in shares of Seagate Technology by 4.3% during the 4th quarter. M&T Bank Corp now owns 11,937 shares of the data storage provider's stock valued at $1,030,000 after acquiring an additional 495 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Seagate Technology in the 4th quarter valued at $1,065,000. Institutional investors own 92.87% of the company's stock.
Insider Buying and Selling at Seagate Technology
In other Seagate Technology news, CFO Gianluca Romano sold 26,816 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $117.58, for a total transaction of $3,153,025.28. Following the transaction, the chief financial officer owned 38,082 shares in the company, valued at $4,477,681.56. This represents a 41.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 70,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $109.47, for a total transaction of $7,662,900.00. Following the transaction, the chief executive officer owned 485,677 shares in the company, valued at approximately $53,167,061.19. The trade was a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 393,791 shares of company stock worth $47,582,998. 0.81% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. BNP Paribas Exane raised shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 target price for the company in a research note on Friday, May 16th. Citigroup upped their target price on shares of Seagate Technology from $140.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. Mizuho cut their price target on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Finally, Wall Street Zen cut shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average target price of $125.53.
Get Our Latest Analysis on Seagate Technology
Seagate Technology Price Performance
Seagate Technology stock traded up $2.68 during trading hours on Friday, hitting $147.18. The company had a trading volume of 2,868,540 shares, compared to its average volume of 3,248,448. The firm has a market cap of $31.23 billion, a PE ratio of 21.27 and a beta of 1.45. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $152.16. The firm has a 50-day moving average of $124.06 and a 200 day moving average of $101.44.
Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The business's revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.
Seagate Technology declared that its Board of Directors has initiated a share buyback program on Thursday, May 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.
Seagate Technology Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th were issued a $0.72 dividend. The ex-dividend date was Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 1.96%. Seagate Technology's dividend payout ratio is currently 41.62%.
Seagate Technology Profile
(
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.
Featured Stories

Before you consider Seagate Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Seagate Technology wasn't on the list.
While Seagate Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report