Oregon Public Employees Retirement Fund Boosts Holdings in Seagate Technology Holdings PLC $STX

Oregon Public Employees Retirement Fund boosted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 31.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,230 shares of the data storage provider’s stock after buying an additional 5,822 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Seagate Technology were worth $5,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vision Financial Markets LLC bought a new stake in shares of Seagate Technology during the 2nd quarter valued at $173,000. Nordea Investment Management AB lifted its position in Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after purchasing an additional 2,808 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd grew its holdings in Seagate Technology by 185.8% during the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after purchasing an additional 12,178 shares during the period. Channing Capital Management LLC bought a new stake in Seagate Technology during the second quarter valued at about $4,542,000. Finally, Chapin Davis Inc. purchased a new stake in Seagate Technology in the third quarter worth about $9,064,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the completion of the transaction, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kian Fatt Chong sold 7,078 shares of Seagate Technology stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $272.14, for a total value of $1,926,206.92. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 132,555 shares of company stock valued at $36,743,207. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STX. Loop Capital boosted their price objective on Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Wedbush lifted their price target on shares of Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Finally, Rosenblatt Securities upped their target price on shares of Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $293.13.

Seagate Technology Stock Performance

STX stock opened at $304.01 on Friday. The company’s fifty day moving average price is $278.12 and its 200-day moving average price is $217.16. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $332.00. The company has a market capitalization of $64.92 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were issued a dividend of $0.74 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $2.96 annualized dividend and a dividend yield of 1.0%. Seagate Technology’s payout ratio is currently 38.00%.

Seagate Technology Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.