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

Arizona State Retirement System raised its position in Seagate Technology Holdings plc (NASDAQ:STX) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in STX. Sanders Capital LLC grew its holdings in Seagate Technology by 0.9% during the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after acquiring an additional 150,115 shares in the last quarter. State Street Corp increased its stake in shares of Seagate Technology by 6.8% in the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after purchasing an additional 541,585 shares during the period. Geode Capital Management LLC raised its stake in Seagate Technology by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after acquiring an additional 318,416 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after purchasing an additional 405,232 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Seagate Technology by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider’s stock worth $117,632,000 after acquiring an additional 34,979 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Up 1.6 %

Shares of Seagate Technology stock opened at $88.00 on Friday. The stock has a market capitalization of $18.63 billion, a P/E ratio of 16.09 and a beta of 1.01. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The company has a 50-day simple moving average of $96.34 and a 200 day simple moving average of $99.70.

Seagate Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Bank of America lifted their target price on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. 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. Wells Fargo & Company lowered their target price on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.56.

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.