Illinois Municipal Retirement Fund Has $4.48 Million Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Illinois Municipal Retirement Fund raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 203.0% in the 4th quarter, HoldingsChannel reports. The fund owned 52,460 shares of the data storage provider’s stock after acquiring an additional 35,146 shares during the period. Illinois Municipal Retirement Fund’s holdings in Seagate Technology were worth $4,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. JPMorgan Chase & Co. boosted its stake in Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after acquiring an additional 1,485,937 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after buying an additional 561 shares during the last quarter. Gotham Asset Management LLC increased its stake in shares of Seagate Technology by 51.1% in the third quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock worth $5,717,000 after purchasing an additional 29,323 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Seagate Technology by 78.4% in the fourth quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock worth $3,292,000 after purchasing an additional 16,950 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Seagate Technology by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 13,293 shares of the data storage provider’s stock worth $1,144,000 after purchasing an additional 630 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of analyst reports. BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research report on Thursday, January 11th. 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 research note on Wednesday, April 10th. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Seagate Technology in a research note on Wednesday. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday. Finally, Rosenblatt Securities upped their price target on shares of Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.53.

Seagate Technology Trading Up 0.7 %

NASDAQ STX opened at $87.11 on Thursday. Seagate Technology Holdings plc has a 12 month low of $54.47 and a 12 month high of $101.26. The stock has a market cap of $18.25 billion, a price-to-earnings ratio of -67.53, a PEG ratio of 715.12 and a beta of 1.04. The company’s 50 day moving average is $89.30 and its two-hundred day moving average is $82.64.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business posted ($0.43) EPS. Seagate Technology’s revenue was down 11.0% on a year-over-year basis. Sell-side analysts forecast that Seagate Technology Holdings plc will post 0.1 EPS for the current year.

Seagate Technology Announces Dividend

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 given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. Seagate Technology’s payout ratio is currently -217.05%.

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.