Louisiana State Employees Retirement System Acquires 800 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Louisiana State Employees Retirement System raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,800 shares of the data storage provider’s stock after acquiring an additional 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Seagate Technology were worth $1,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STX. Bessemer Group Inc. boosted its position in shares of Seagate Technology by 68.7% during the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after purchasing an additional 7,150 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Seagate Technology by 2.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after acquiring an additional 6,044 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Seagate Technology by 21.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after acquiring an additional 40,649 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of Seagate Technology by 15.7% during the first quarter. Illinois Municipal Retirement Fund now owns 60,702 shares of the data storage provider’s stock worth $5,648,000 after acquiring an additional 8,242 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Seagate Technology during the second quarter worth $499,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $99.11 on Friday. Seagate Technology Holdings plc has a 52-week low of $70.31 and a 52-week high of $115.32. The firm has a 50 day moving average price of $104.91 and a two-hundred day moving average price of $100.04. The stock has a market cap of $20.96 billion, a P/E ratio of 25.88 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm posted ($0.34) EPS. The company’s quarterly revenue was up 49.1% on a year-over-year basis. Analysts predict that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.91%. Seagate Technology’s dividend payout ratio is currently 73.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STX shares. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Barclays lifted their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Susquehanna lifted their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Gianluca Romano sold 25,760 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the completion of the sale, the chief financial officer now owns 52,620 shares in the company, valued at approximately $4,974,694.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at $61,148,074.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,398 shares of company stock valued at $23,238,106 over the last ninety days. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Company 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.