State of Michigan Retirement System lessened its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,533 shares of the data storage provider’s stock after selling 700 shares during the period. State of Michigan Retirement System’s holdings in Seagate Technology were worth $3,290,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. CENTRAL TRUST Co lifted its holdings in Seagate Technology by 50.0% in the third quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider’s stock valued at $48,000 after buying an additional 300 shares during the period. Private Trust Co. NA acquired a new position in Seagate Technology in the fourth quarter valued at $55,000. Eagle Bay Advisors LLC acquired a new position in Seagate Technology in the second quarter valued at $62,000. Wipfli Financial Advisors LLC acquired a new position in Seagate Technology in the third quarter valued at $74,000. Finally, Lee Financial Co lifted its holdings in Seagate Technology by 9,233.3% in the third quarter. Lee Financial Co now owns 1,400 shares of the data storage provider’s stock valued at $75,000 after buying an additional 1,385 shares during the period. Institutional investors and hedge funds own 82.69% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Northland Securities lifted their price target on shares of Seagate Technology from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, January 26th. Wells Fargo & Company lifted their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, January 26th. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $61.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Credit Suisse Group lifted their price target on shares of Seagate Technology from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 24th. Finally, Evercore ISI boosted their target price on shares of Seagate Technology from $60.00 to $70.00 in a research report on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $69.58.
Insider Buying and Selling
Seagate Technology Trading Up 0.8 %
Shares of STX stock opened at $66.88 on Wednesday. The stock has a market capitalization of $13.81 billion, a P/E ratio of 23.80, a PEG ratio of 54.53 and a beta of 1.09. The firm’s 50 day moving average is $65.67 and its 200 day moving average is $58.56. Seagate Technology Holdings plc has a 12 month low of $47.47 and a 12 month high of $88.25.
Seagate Technology (NASDAQ:STX – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The data storage provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Seagate Technology had a net margin of 6.61% and a negative return on equity of 1,031.05%. Seagate Technology’s revenue was down 39.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 EPS. On average, equities analysts predict that Seagate Technology Holdings plc will post 0.92 EPS for the current year.
Seagate Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, April 6th. Investors of record on Wednesday, March 22nd were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Tuesday, March 21st. Seagate Technology’s dividend payout ratio (DPR) is presently 99.64%.
About Seagate Technology
Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.
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