Louisiana State Employees Retirement System Purchases New Shares in Seagate Technology Holdings plc (NASDAQ:STX)

Louisiana State Employees Retirement System purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,800 shares of the data storage provider’s stock, valued at approximately $1,007,000.

A number of other institutional investors and hedge funds have also bought and sold shares of STX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Seagate Technology in the 4th quarter valued at $26,000. CVA Family Office LLC purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $28,000. Parkside Financial Bank & Trust increased its position in shares of Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $43,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Up 0.7 %

Shares of STX opened at $87.11 on Thursday. The business’s 50-day moving average price is $89.30 and its 200-day moving average price is $82.64. Seagate Technology Holdings plc has a twelve month low of $54.47 and a twelve month high of $101.26. The stock has a market cap of $18.25 billion, a PE ratio of -24.89, a P/E/G ratio of 703.97 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share 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 the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned ($0.43) earnings per share. The company’s quarterly revenue was down 11.0% on a year-over-year basis. Analysts expect that Seagate Technology Holdings plc will post 0.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. Seagate Technology’s dividend payout ratio (DPR) is -80.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on STX shares. Wells Fargo & Company raised their target price on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Rosenblatt Securities raised their target price on Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Wedbush reissued a “neutral” rating and issued a $100.00 price objective on shares of Seagate Technology in a report on Wednesday. UBS Group upped their price objective on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Susquehanna upped their price objective on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $94.53.

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.