According to its recent 13F filing with the U.S. Securities and Exchange Commission (SEC), the Texas Teachers’ Retirement System dropped its holdings in Seagate Technology Holdings (NASDAQ: STX – Get Rating ) in the third quarter. Shares are down 44.9%. The company owns 29,303 shares of the data storage provider after selling 23,856 shares during the quarter. As of the most recent filing with the Securities and Exchange Commission (SEC), the Texas Teachers’ Retirement System’s holding in Seagate Technology was worth $1,560,000.
Many other institutional investors have also bought and sold STX shares recently. Stiles Financial Services Inc increased its stake in Seagate Technology by 2.2 percent in the third quarter. Stiles Financial Services Inc now owns 16,174 shares of the data storage provider, worth $861,000, after acquiring an additional 347 shares in the period. PGGM Investments bought a new position in Seagate Technology in the third quarter, worth approximately $900,000. Los Angeles Capital Management LLC increased its stake in Seagate Technology by 43.2% in the third quarter. Los Angeles Capital Management LLC now owns 67,056 shares of the data storage provider, worth $3,569,000, after purchasing an additional 20,222 shares during the period. Victory Capital Management Inc. increased its stake in Seagate Technology by 264.2% in the third quarter. Victory Capital Management Inc. now owns 547,594 shares of the data storage provider worth $29,148,000 after purchasing an additional 397,221 shares during that period. Finally, Avantax Advisory Services Inc. increased its stake in Seagate Technology by 8.2% in the third quarter. Avantax Advisory Services Inc. now owns 8,718 shares of the data storage provider, worth $464,000, after purchasing an additional 662 shares in the period. Institutional investors hold 82.69% of the company’s shares.
Analyst Rating Changes
Several research analysts have commented on the company. Barclays raised their price target on shares of Seagate Technology from $70.00 to $75.00 in a research report on Thursday. Susquehanna Bancshares cut their price target on shares of Seagate Technology from $40.00 to $38.00 in a report on Thursday, October 27th. Morgan Stanley upped their target price on shares of Seagate Technology from $69.00 to $72.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Seagate Technology from $60.00 to $55.00 in a report on Thursday, October 27th. Finally, Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday. One equity research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and an average price target of $68.75.
Seagate technology cost performance
STX opened at $68.99 on Monday. The company has a market cap of $14.25 billion, a P/E ratio of 24.55, a PEG ratio of 45.04, and a beta of 1.06. Seagate Technology Holdings plc had a 1-year low of $47.47 and a 1-year high of $113.50. The stock’s 50-day simple moving average is $55.02, and its 200-day simple moving average is $61.45. The company’s debt-to-equity ratio is 46.44, the current ratio is 1.13, and the quick ratio is 0.69.
Seagate Technology (NASDAQ: STX – Rated ) last reported quarterly earnings data on Wednesday, January 25th. The data storage provider reported EPS of $0.16 for the quarter, beating analysts’ consensus estimate of $0.11 by $0.05. The company’s revenue for the quarter was $1.89 billion, compared with analyst estimates of $1.83 billion. Seagate Technology had a negative return on equity of 1,031.05% and a net margin of 6.61%. Quarterly revenue from the business fell 39.4% compared to the same period last year. In the same period last year, the company earned $2.28 per share. As a group, analysts forecast Seagate Technology Holdings plc to post earnings per share of 1.27 for the year.
Seagate Technology Declares Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6. Shareholders of record on Wednesday, March 22 will receive a $0.70 dividend. The ex-dividend date for this dividend is Tuesday, March 21. This represents an annualized dividend of $2.80 and a dividend yield of 4.06%. Seagate Technology currently has a dividend payout ratio of 99.64%.
Seagate Technology Brief
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Seagate Technology Holdings Plc operates as a holding company 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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