Teachers Retirement System of The State of Kentucky Sells 267 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,277 shares of the data storage provider’s stock after selling 267 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Seagate Technology were worth $1,673,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in Seagate Technology during the 3rd quarter valued at $26,000. Quarry LP bought a new position in shares of Seagate Technology during the second quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. bought a new stake in shares of Seagate Technology in the second quarter worth about $41,000. Finally, Advisors Asset Management Inc. increased its holdings in Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. This trade represents a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,961 shares of company stock valued at $23,967,629. 0.81% of the stock is owned by company insiders.

Seagate Technology Stock Performance

STX opened at $94.49 on Wednesday. The company’s 50-day simple moving average is $102.36 and its two-hundred day simple moving average is $102.25. The stock has a market capitalization of $19.99 billion, a P/E ratio of 24.67 and a beta of 1.03. Seagate Technology Holdings plc has a 52-week low of $79.39 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year. Research analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 3.05%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is presently 75.20%.

Analyst Ratings Changes

A number of brokerages recently commented on STX. Northland Securities raised their price target on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI raised their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $118.83.

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.