California State Teachers Retirement System Has $23.72 Million Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

California State Teachers Retirement System decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 11.0% in the fourth quarter, Holdings Channel reports. The fund owned 274,786 shares of the data storage provider’s stock after selling 33,960 shares during the period. California State Teachers Retirement System’s holdings in Seagate Technology were worth $23,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in Seagate Technology in the 4th quarter valued at $26,000. Elequin Capital LP acquired a new position in shares of Seagate Technology during the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $27,000. JFS Wealth Advisors LLC grew its position in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after buying an additional 113 shares in the last quarter. Finally, Human Investing LLC bought a new position in Seagate Technology during the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $118.14 on Friday. The firm has a market cap of $25.07 billion, a P/E ratio of 21.60 and a beta of 1.32. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $118.63. The firm’s 50-day simple moving average is $88.83 and its 200 day simple moving average is $93.09.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, equities analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology’s dividend payout ratio (DPR) is currently 41.62%.

Seagate Technology declared that its Board of Directors has approved a stock buyback program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to repurchase up to 21.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

STX has been the subject of a number of research reports. Morgan Stanley raised their price objective on Seagate Technology from $99.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. UBS Group upped their target price on Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Barclays lifted their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Wall Street Zen cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.89.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 4,201 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total value of $483,115.00. Following the sale, the executive vice president now directly owns 22,999 shares in the company, valued at approximately $2,644,885. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 70,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $109.47, for a total value of $7,662,900.00. Following the completion of the transaction, the chief executive officer now owns 485,677 shares of the company’s stock, valued at $53,167,061.19. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,057 shares of company stock valued at $11,685,976 over the last 90 days. 0.81% of the stock is owned by corporate insiders.

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.