Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 35.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,120 shares of the data storage provider’s stock after selling 40,326 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Seagate Technology were worth $7,448,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STX. Linscomb Wealth Inc. acquired a new stake in Seagate Technology in the second quarter valued at approximately $222,000. Angeles Wealth Management LLC purchased a new position in shares of Seagate Technology during the 2nd quarter valued at approximately $413,000. Daiwa Securities Group Inc. boosted its stake in shares of Seagate Technology by 19.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 27,686 shares of the data storage provider’s stock valued at $2,859,000 after buying an additional 4,419 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Seagate Technology by 0.8% during the 2nd quarter. Royal London Asset Management Ltd. now owns 78,252 shares of the data storage provider’s stock valued at $8,081,000 after buying an additional 623 shares during the last quarter. Finally, LGT Group Foundation boosted its stake in shares of Seagate Technology by 9.4% during the 2nd quarter. LGT Group Foundation now owns 77,885 shares of the data storage provider’s stock valued at $8,043,000 after buying an additional 6,674 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now owns 5,387 shares of the company’s stock, valued at approximately $592,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now owns 5,387 shares of the company’s stock, valued at approximately $592,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,627 shares of company stock valued at $5,489,495. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

STX has been the subject of several research analyst reports. Bank of America reiterated a “buy” rating and set a $110.00 target price on shares of Seagate Technology in a research note on Wednesday, June 5th. Citigroup raised their price objective on Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price objective on Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $115.94.

Seagate Technology Stock Up 1.5 %

NASDAQ:STX opened at $102.13 on Monday. The business’s 50-day moving average price is $101.44 and its 200 day moving average price is $96.32. The firm has a market cap of $21.50 billion, a P/E ratio of -79.17 and a beta of 1.03. Seagate Technology Holdings plc has a 52-week low of $63.22 and a 52-week high of $113.57.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. Seagate Technology’s revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.29) earnings per share. Sell-side analysts expect that Seagate Technology Holdings plc will post 6.72 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.74%. Seagate Technology’s dividend payout ratio 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.