Retirement Systems of Alabama Has $3.66 Million Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Retirement Systems of Alabama decreased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,875 shares of the data storage provider’s stock after selling 735 shares during the quarter. Retirement Systems of Alabama’s holdings in Seagate Technology were worth $3,660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC grew its holdings in Seagate Technology by 13.1% during the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock worth $918,664,000 after purchasing an additional 1,612,264 shares during the period. JPMorgan Chase & Co. raised its stake in Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after acquiring an additional 1,485,937 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Seagate Technology by 24.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock worth $158,950,000 after purchasing an additional 470,592 shares during the period. Linden Advisors LP acquired a new position in shares of Seagate Technology in the third quarter valued at $26,591,000. Finally, Tudor Investment Corp Et Al raised its position in shares of Seagate Technology by 1,469.1% in the third quarter. Tudor Investment Corp Et Al now owns 214,110 shares of the data storage provider’s stock valued at $14,121,000 after purchasing an additional 229,749 shares during the period. Institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

STX has been the topic of a number of research reports. Susquehanna upped their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research note on Wednesday, April 10th. Evercore ISI started coverage on Seagate Technology in a report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price target for the company. The Goldman Sachs Group boosted their price target on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. BNP Paribas downgraded Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a report on Thursday, January 11th. Finally, Cantor Fitzgerald raised their price target on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.53.

Seagate Technology Trading Down 0.4 %

STX opened at $89.51 on Wednesday. Seagate Technology Holdings plc has a 1-year low of $55.11 and a 1-year high of $101.26. The company has a market cap of $18.80 billion, a price-to-earnings ratio of -69.39, a PEG ratio of 242.66 and a beta of 1.06. The company’s fifty day moving average price is $89.18 and its two-hundred day moving average price is $83.96.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. As a group, equities analysts forecast that Seagate Technology Holdings plc will post 0.3 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is -217.05%.

Seagate Technology 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.