Arizona State Retirement System Grows Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Arizona State Retirement System lifted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 38.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,617 shares of the data storage provider's stock after acquiring an additional 19,771 shares during the quarter. Arizona State Retirement System's holdings in Seagate Technology were worth $6,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Panagora Asset Management Inc. increased its position in Seagate Technology by 65.3% in the first quarter. Panagora Asset Management Inc. now owns 11,805 shares of the data storage provider's stock worth $1,061,000 after buying an additional 4,663 shares during the last quarter. Rhumbline Advisers increased its position in Seagate Technology by 0.6% in the first quarter. Rhumbline Advisers now owns 182,883 shares of the data storage provider's stock worth $16,441,000 after buying an additional 1,037 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Seagate Technology by 4.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,946 shares of the data storage provider's stock worth $2,422,000 after buying an additional 1,237 shares during the last quarter. Sei Investments Co. increased its position in Seagate Technology by 153.5% in the first quarter. Sei Investments Co. now owns 89,250 shares of the data storage provider's stock worth $8,059,000 after buying an additional 54,038 shares during the last quarter. Finally, Aviva PLC increased its position in Seagate Technology by 44.3% in the first quarter. Aviva PLC now owns 95,541 shares of the data storage provider's stock worth $8,589,000 after buying an additional 29,329 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Down 0.9 %

NASDAQ:STX traded down $0.84 during trading hours on Monday, hitting $89.15. 2,612,870 shares of the company's stock traded hands, compared to its average volume of 2,756,913. The firm has a market cap of $18.68 billion, a P/E ratio of -25.71, a P/E/G ratio of 1,487.44 and a beta of 1.04. Seagate Technology Holdings plc has a 52 week low of $54.32 and a 52 week high of $101.26. The business's fifty day simple moving average is $89.65 and its two-hundred day simple moving average is $80.89.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.19. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. On average, analysts expect that Seagate Technology Holdings plc will post 0.05 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, March 20th. Seagate Technology's dividend payout ratio (DPR) is currently -80.00%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STX. BNP Paribas downgraded Seagate Technology from a "neutral" rating to an "underperform" rating and set a $65.00 target price for the company. in a research report on Thursday, January 11th. Morgan Stanley raised Seagate Technology from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Wedbush reaffirmed a "neutral" rating and issued a $100.00 price target on shares of Seagate Technology in a report on Thursday, January 25th. Barclays raised their price target on Seagate Technology from $65.00 to $85.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 16th. Finally, TD Cowen raised their price target on Seagate Technology from $85.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $84.17.

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.