California Public Employees Retirement System Boosts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

California Public Employees Retirement System grew its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 4.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 392,701 shares of the data storage provider's stock after acquiring an additional 18,443 shares during the period. California Public Employees Retirement System owned about 0.19% of Seagate Technology worth $33,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Investment Advisory Services LLC lifted its stake in shares of Seagate Technology by 4.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 4,655 shares of the data storage provider's stock valued at $397,000 after buying an additional 185 shares in the last quarter. CWM LLC lifted its stake in shares of Seagate Technology by 3.9% during the 4th quarter. CWM LLC now owns 3,441 shares of the data storage provider's stock valued at $294,000 after buying an additional 130 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Seagate Technology by 5.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,763 shares of the data storage provider's stock valued at $2,626,000 after buying an additional 1,614 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $221,000. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Seagate Technology by 1.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 29,987 shares of the data storage provider's stock valued at $2,560,000 after buying an additional 439 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STX. TD Cowen upped their price target on shares of Seagate Technology from $85.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Benchmark reiterated a "hold" rating on shares of Seagate Technology in a research note on Wednesday. Barclays lowered their target price on shares of Seagate Technology from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, BNP Paribas cut shares of Seagate Technology from a "neutral" rating to an "underperform" rating and set a $65.00 target price on the stock. in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology has an average rating of "Hold" and a consensus price target of $94.53.

Seagate Technology Price Performance

Seagate Technology stock traded down $1.22 during trading hours on Friday, reaching $86.04. The stock had a trading volume of 3,637,434 shares, compared to its average volume of 3,003,319. The stock has a market cap of $18.03 billion, a PE ratio of -66.70, a PEG ratio of 480.77 and a beta of 1.04. Seagate Technology Holdings plc has a 52 week low of $54.47 and a 52 week high of $101.26. The company has a fifty day simple moving average of $89.25 and a 200-day simple moving average of $82.92.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the business posted ($0.43) earnings per share. The company's revenue for the quarter was down 11.0% on a year-over-year basis. Research analysts predict that Seagate Technology Holdings plc will post 0.15 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. Seagate Technology's dividend payout ratio (DPR) 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.