Retirement Systems of Alabama Purchases 3,135 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Retirement Systems of Alabama lifted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,213 shares of the data storage provider’s stock after acquiring an additional 3,135 shares during the period. Retirement Systems of Alabama’s holdings in Seagate Technology were worth $5,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Sanders Capital LLC lifted its stake in Seagate Technology by 0.9% during the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after purchasing an additional 150,115 shares during the last quarter. State Street Corp lifted its position in shares of Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after buying an additional 541,585 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Seagate Technology by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after buying an additional 318,416 shares during the last quarter. Franklin Resources Inc. grew its position in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after acquiring an additional 405,232 shares during the last quarter. Finally, Duquesne Family Office LLC raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $91.60 on Thursday. Seagate Technology Holdings plc has a 1 year low of $79.39 and a 1 year high of $115.32. The business’s 50-day moving average is $101.72 and its 200-day moving average is $102.19. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of 23.92 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company’s revenue was up 49.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.34) earnings per share. Analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, December 13th. Seagate Technology’s payout ratio is 75.20%.

Analyst Ratings Changes

A number of research firms have recently weighed in on STX. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Citigroup upped their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Rosenblatt Securities lifted their price target on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity

In other news, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at $73,668,110.88. This represents a 17.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the sale, the director now owns 6,555 shares of the company’s stock, valued at $667,430.10. This trade represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,961 shares of company stock worth $23,967,629. Company insiders own 0.81% of the company’s stock.

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.