State of Michigan Retirement System Boosts Stake in Seagate Technology Holdings plc (NASDAQ:STX)

State of Michigan Retirement System raised its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,405 shares of the data storage provider’s stock after buying an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Seagate Technology were worth $4,955,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Seagate Technology in the third quarter worth $26,000. Advisors Asset Management Inc. increased its holdings in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after buying an additional 258 shares during the last quarter. JFS Wealth Advisors LLC raised its position in shares of Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after buying an additional 113 shares in the last quarter. Human Investing LLC bought a new position in shares of Seagate Technology in the 4th quarter valued at about $48,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Seagate Technology in the third quarter worth about $53,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 6.3 %

Shares of Seagate Technology stock opened at $86.64 on Friday. The stock’s fifty day moving average price is $96.33 and its 200-day moving average price is $99.84. The firm has a market cap of $18.34 billion, a P/E ratio of 15.84 and a beta of 1.07. Seagate Technology Holdings plc has a 12 month low of $82.31 and a 12 month high of $115.32.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 3.32%. Seagate Technology’s dividend payout ratio is currently 52.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Wednesday, January 22nd. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Barclays boosted their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Mizuho dropped their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.56.

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.