KBC Group NV decreased its stake in Seagate Technology PLC (NASDAQ:STX) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,727 shares of the data storage provider’s stock after selling 4,678 shares during the quarter. KBC Group NV owned approximately 0.08% of Seagate Technology worth $8,018,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Seagate Technology by 7.4% during the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after purchasing an additional 2,292,075 shares in the last quarter. BlackRock Inc. grew its position in shares of Seagate Technology by 1.4% during the second quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock worth $720,459,000 after purchasing an additional 256,005 shares in the last quarter. ValueAct Holdings L.P. grew its position in shares of Seagate Technology by 44.8% during the second quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock worth $535,361,000 after purchasing an additional 4,276,275 shares in the last quarter. LSV Asset Management grew its position in shares of Seagate Technology by 1.7% during the second quarter. LSV Asset Management now owns 6,521,232 shares of the data storage provider’s stock worth $252,697,000 after purchasing an additional 106,811 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Seagate Technology by 4.2% during the third quarter. APG Asset Management N.V. now owns 3,392,370 shares of the data storage provider’s stock worth $112,525,000 after purchasing an additional 135,300 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.
In other Seagate Technology news, Director Dambisa F. Moyo sold 8,715 shares of Seagate Technology stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total transaction of $339,972.15. Following the completion of the sale, the director now directly owns 3,316 shares of the company’s stock, valued at approximately $129,357.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey D. Nygaard bought 5,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were purchased at an average cost of $37.38 per share, with a total value of $186,900.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 44,981 shares of company stock valued at $1,656,761. 0.87% of the stock is currently owned by corporate insiders.
Several analysts recently issued reports on the company. Vetr cut Seagate Technology from a “buy” rating to a “hold” rating and set a $41.79 target price for the company. in a research report on Thursday, November 23rd. KeyCorp reiterated a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. Guggenheim reiterated a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. BMO Capital Markets reiterated a “hold” rating and set a $40.00 target price on shares of Seagate Technology in a research report on Monday, October 23rd. Finally, Royal Bank Of Canada increased their target price on Seagate Technology from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.53.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at $39.20 on Tuesday. Seagate Technology PLC has a one year low of $30.60 and a one year high of $50.96. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. The stock has a market capitalization of $11,315.25, a P/E ratio of 9.56, a P/E/G ratio of 0.52 and a beta of 1.67.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company earned $0.99 EPS. Seagate Technology’s quarterly revenue was down 5.9% compared to the same quarter last year. analysts anticipate that Seagate Technology PLC will post 3.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date is Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 95.09%.
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Seagate Technology Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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