Illinois Municipal Retirement Fund Purchases 35,146 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Illinois Municipal Retirement Fund raised its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 203.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of STX. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $26,000. CVA Family Office LLC bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust lifted its stake in shares of Seagate Technology by 85.4% in the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after buying an additional 205 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $43,000. 92.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $100.00 target price on shares of Seagate Technology in a research note on Wednesday. Mizuho reiterated a “buy” rating and issued a $100.00 target price on shares of Seagate Technology in a research note on Tuesday, April 9th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday. BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target for the company. in a research report on Thursday, January 11th. Finally, TD Cowen increased their price target on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Hold” and a consensus price target of $94.53.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $87.11 on Thursday. The firm has a market cap of $18.25 billion, a P/E ratio of -67.53, a P/E/G ratio of 715.12 and a beta of 1.04. The firm has a 50 day simple moving average of $89.30 and a 200 day simple moving average of $82.64. Seagate Technology Holdings plc has a fifty-two week low of $54.47 and a fifty-two week high of $101.26.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.43) EPS. On average, sell-side analysts expect that Seagate Technology Holdings plc will post 0.1 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.21%. Seagate Technology’s dividend payout ratio is -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.