California Public Employees Retirement System Has $33.53 Million Stake in Seagate Technology Holdings plc (NASDAQ:STX)

California Public Employees Retirement System raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 392,701 shares of the data storage provider’s stock after acquiring an additional 18,443 shares during the period. California Public Employees Retirement System’s holdings in Seagate Technology were worth $33,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Seagate Technology in the fourth quarter valued at about $26,000. CVA Family Office LLC acquired a new position in shares of Seagate Technology during the fourth quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Seagate Technology during the fourth quarter worth about $28,000. Parkside Financial Bank & Trust boosted its position in shares of Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after buying an additional 205 shares during the period. Finally, Valley National Advisers Inc. boosted its position in shares of Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after buying an additional 144 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Evercore ISI started coverage on Seagate Technology in a research report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price objective for the company. Rosenblatt Securities upped their target price on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday. Finally, UBS Group upped their target price on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.53.

Seagate Technology Stock Down 1.4 %

NASDAQ:STX opened at $86.04 on Friday. The stock’s 50 day moving average price is $89.25 and its two-hundred day moving average price is $82.81. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of -66.70, a P/E/G ratio of 480.77 and a beta of 1.04. Seagate Technology Holdings plc has a 12-month low of $54.47 and a 12-month high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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 business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Seagate Technology’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) EPS. Equities research analysts expect that Seagate Technology Holdings plc will post 0.15 EPS for the current year.

Seagate Technology Dividend Announcement

The company 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. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

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.