Public Employees Retirement Association of Colorado Makes New $1.78 Million Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Public Employees Retirement Association of Colorado bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,616 shares of the data storage provider's stock, valued at approximately $1,779,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of STX. Vanguard Group Inc. boosted its holdings in shares of Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the period. Sanders Capital LLC boosted its stake in Seagate Technology by 1.0% during the fourth quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock worth $1,426,717,000 after buying an additional 162,561 shares during the period. Capital Research Global Investors increased its position in Seagate Technology by 56.5% during the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after acquiring an additional 5,640,443 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Seagate Technology by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock valued at $370,013,000 after acquiring an additional 132,713 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Seagate Technology by 14.6% in the 4th quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock worth $238,348,000 after acquiring an additional 352,300 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STX has been the topic of a number of recent analyst reports. Mizuho reduced their price objective 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. Rosenblatt Securities restated a "buy" rating and set a $130.00 price objective on shares of Seagate Technology in a report on Wednesday. Northland Securities reiterated an "outperform" rating and issued a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Benchmark upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target on the stock in a report on Wednesday, January 22nd. Finally, Susquehanna raised their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a "negative" rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus target price of $114.89.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Stock Up 3.4 %

Shares of STX traded up $3.06 during mid-day trading on Friday, reaching $93.07. The company had a trading volume of 3,408,252 shares, compared to its average volume of 2,851,796. The stock has a market capitalization of $19.70 billion, a P/E ratio of 17.01 and a beta of 1.31. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32. The stock has a 50 day moving average of $83.26 and a two-hundred day moving average of $92.82.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the firm posted $0.33 EPS. The business's quarterly revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts expect that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.09%. Seagate Technology's dividend payout ratio (DPR) is currently 41.62%.

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.