State of New Jersey Common Pension Fund D Increases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

State of New Jersey Common Pension Fund D increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,446 shares of the data storage provider’s stock after buying an additional 8,288 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of Seagate Technology worth $9,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Seagate Technology in the 4th quarter valued at $26,000. CVA Family Office LLC purchased a new position in Seagate Technology in the 4th quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in Seagate Technology in the 4th quarter valued at $28,000. Parkside Financial Bank & Trust lifted its holdings in Seagate Technology by 85.4% in 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 in the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in Seagate Technology by 39.7% in the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

STX has been the subject of a number of recent research reports. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Mizuho reaffirmed a “buy” rating and issued a $100.00 target price on shares of Seagate Technology in a research note on Tuesday, April 9th. BNP Paribas downgraded Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a research note on Thursday, January 11th. Wells Fargo & Company raised their target price on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Finally, Robert W. Baird raised their target price on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.53.

Seagate Technology Stock Performance

Shares of STX traded up $0.15 during midday trading on Thursday, hitting $87.26. The company had a trading volume of 3,164,158 shares, compared to its average volume of 2,859,756. The company’s 50-day simple moving average is $89.30 and its 200-day simple moving average is $82.64. The firm has a market capitalization of $18.28 billion, a P/E ratio of -68.02, a P/E/G ratio of 715.12 and a beta of 1.04. Seagate Technology Holdings plc has a 1 year low of $54.47 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last announced 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 company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.43) EPS. Equities analysts predict 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. Stockholders of record on Thursday, June 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is presently -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.