State Board of Administration of Florida Retirement System trimmed its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 4.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,699 shares of the data storage provider’s stock after selling 3,360 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Seagate Technology were worth $5,339,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Affinity Investment Advisors LLC boosted its holdings in Seagate Technology by 28.6% in the third quarter. Affinity Investment Advisors LLC now owns 5,000 shares of the data storage provider’s stock valued at $413,000 after purchasing an additional 1,112 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in Seagate Technology by 4.0% in the third quarter. Securian Asset Management Inc. now owns 17,379 shares of the data storage provider’s stock valued at $1,434,000 after purchasing an additional 663 shares in the last quarter. Marcum Wealth LLC boosted its holdings in shares of Seagate Technology by 3.7% in the third quarter. Marcum Wealth LLC now owns 2,919 shares of the data storage provider’s stock valued at $241,000 after acquiring an additional 104 shares during the period. Moors & Cabot Inc. acquired a new stake in shares of Seagate Technology in the third quarter valued at approximately $2,443,000. Finally, Proquility Private Wealth Partners LLC boosted its holdings in shares of Seagate Technology by 2.5% in the third quarter. Proquility Private Wealth Partners LLC now owns 27,383 shares of the data storage provider’s stock valued at $2,260,000 after acquiring an additional 665 shares during the period. 80.54% of the stock is owned by hedge funds and other institutional investors.
Shares of STX stock opened at $109.20 on Friday. Seagate Technology Holdings plc has a fifty-two week low of $58.35 and a fifty-two week high of $117.67. The stock has a market cap of $24.31 billion, a P/E ratio of 15.92, a P/E/G ratio of 11.46 and a beta of 1.04. The business has a fifty day simple moving average of $106.65 and a 200-day simple moving average of $93.61. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 8.14.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 5th. Stockholders of record on Wednesday, December 22nd were given a $0.70 dividend. The ex-dividend date was Tuesday, December 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.67. Seagate Technology’s dividend payout ratio (DPR) is currently 40.82%.
In related news, EVP Jeffrey D. Nygaard sold 3,158 shares of the stock in a transaction on Wednesday, January 5th. The stock was sold at an average price of $115.55, for a total transaction of $364,906.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Holdings L.P. Valueact sold 815,000 shares of the stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $105.39, for a total value of $85,892,850.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,147,774 shares of company stock worth $121,041,011. Corporate insiders own 0.81% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Stifel Nicolaus increased their price objective on Seagate Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 22nd. Loop Capital increased their price objective on Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 25th. They noted that the move was a valuation call. Zacks Investment Research downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $117.00 price objective for the company. in a report on Monday, December 27th. Susquehanna increased their price objective on Seagate Technology from $90.00 to $93.00 and gave the company a “neutral” rating in a report on Monday, October 25th. Finally, Barclays upped their price target on Seagate Technology from $85.00 to $100.00 in a research note on Wednesday. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Hold” and an average target price of $99.48.
Seagate Technology Company Profile
Seagate Technology Holdings Plc operates as holding company that is 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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