Vident Investment Advisory LLC bought a new position in Seagate Technology PLC (NASDAQ:STX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,944 shares of the data storage provider’s stock, valued at approximately $297,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. WFG Advisors LP raised its position in shares of Seagate Technology by 16,536.4% in the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after acquiring an additional 3,638 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Seagate Technology during the 2nd quarter valued at about $150,000. SpiderRock Advisors LLC increased its position in Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after buying an additional 5,347 shares in the last quarter. Putnam FL Investment Management Co. acquired a new position in Seagate Technology during the 3rd quarter valued at about $215,000. Finally, Global X Management Co. LLC increased its position in Seagate Technology by 87.7% during the 2nd quarter. Global X Management Co. LLC now owns 6,550 shares of the data storage provider’s stock valued at $254,000 after buying an additional 3,060 shares in the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Stephen J. Luczo sold 100,000 shares of Seagate Technology stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $48.99, for a total transaction of $4,899,000.00. Following the sale, the chairman now owns 95,420 shares in the company, valued at $4,674,625.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David H. Morton, Jr. sold 40,263 shares of Seagate Technology stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $48.78, for a total value of $1,964,029.14. Following the sale, the chief financial officer now owns 65,824 shares in the company, valued at approximately $3,210,894.72. The disclosure for this sale can be found here. Insiders have sold 194,744 shares of company stock worth $9,075,320 in the last quarter. Insiders own 0.87% of the company’s stock.
Several brokerages recently issued reports on STX. Zacks Investment Research lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet upgraded Seagate Technology from a “c+” rating to a “b-” rating in a research note on Tuesday. Craig Hallum reiterated a “buy” rating and set a $56.00 price target (up previously from $50.00) on shares of Seagate Technology in a research note on Tuesday. Wells Fargo & Co restated a “market perform” rating and issued a $45.00 target price (up previously from $38.00) on shares of Seagate Technology in a research note on Tuesday. Finally, Maxim Group restated a “hold” rating and issued a $44.00 target price (up previously from $43.00) on shares of Seagate Technology in a research note on Tuesday. Four analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, six have assigned 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 target price of $43.15.
Seagate Technology PLC (STX) traded up $1.94 during trading hours on Thursday, reaching $49.01. The company had a trading volume of 6,246,581 shares, compared to its average volume of 4,700,000. The stock has a market capitalization of $14,180.00, a price-to-earnings ratio of 18.56, a PEG ratio of 0.57 and a beta of 1.68. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96.
Seagate Technology (NASDAQ:STX) last released its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 business posted $0.99 earnings per share. Seagate Technology’s revenue was down 5.9% compared to the same quarter last year. equities analysts anticipate that Seagate Technology PLC will post 4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend was Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is currently 95.45%.
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Seagate Technology 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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