Public Employees Retirement System of Ohio Purchases New Position in Seagate Technology Holdings plc (NASDAQ:STX)

Public Employees Retirement System of Ohio acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,592 shares of the data storage provider’s stock, valued at approximately $612,000.

Other institutional investors have also modified their holdings of the company. Sanders Capital LLC grew its stake in Seagate Technology by 0.9% during the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after buying an additional 150,115 shares during the last quarter. State Street Corp boosted its holdings in shares of Seagate Technology by 6.8% in the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after acquiring an additional 541,585 shares during the period. Duquesne Family Office LLC grew its position in shares of Seagate Technology by 22.0% during the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after acquiring an additional 316,295 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Seagate Technology by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock valued at $145,447,000 after purchasing an additional 73,267 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Seagate Technology by 341.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after purchasing an additional 1,012,638 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

STX has been the topic of a number of recent research reports. Evercore ISI lifted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities increased their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Performance

STX opened at $87.31 on Friday. The company has a market cap of $18.47 billion, a price-to-earnings ratio of 22.80 and a beta of 1.03. Seagate Technology Holdings plc has a one year low of $79.39 and a one year high of $115.32. The business’s fifty day moving average is $100.86 and its two-hundred day moving average is $102.06.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned ($0.34) EPS. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. On average, analysts predict that Seagate Technology Holdings plc will post 7.18 EPS 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 $0.72 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is presently 75.20%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. This represents a 32.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the sale, the senior vice president now owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. This trade represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,961 shares of company stock worth $23,967,629. 0.81% of the stock is owned by 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.