Arizona State Retirement System Increases Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Arizona State Retirement System grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,112 shares of the data storage provider’s stock after buying an additional 3,959 shares during the quarter. Arizona State Retirement System’s holdings in Seagate Technology were worth $5,275,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Berkshire Bank lifted its stake in shares of Seagate Technology by 2.6% in the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock worth $355,000 after buying an additional 103 shares in the last quarter. MWA Asset Management grew its position in Seagate Technology by 0.5% in the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock worth $1,695,000 after acquiring an additional 104 shares during the period. JFS Wealth Advisors LLC grew its position in Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 113 shares during the period. My Legacy Advisors LLC grew its position in Seagate Technology by 3.9% in the fourth quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider’s stock worth $294,000 after acquiring an additional 118 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in Seagate Technology by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,098 shares of the data storage provider’s stock worth $1,562,000 after purchasing an additional 120 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on STX. Rosenblatt Securities upped their price target on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Bank of America raised their price objective on Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Wednesday, January 22nd. Finally, Wedbush restated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $122.56.

Seagate Technology Stock Performance

Seagate Technology stock opened at $88.00 on Friday. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 16.09 and a beta of 1.01. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The stock’s fifty day moving average is $96.34 and its two-hundred day moving average is $99.70.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

About Seagate Technology

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.