First National Trust Co lowered its holdings in Seagate Technology PLC (NASDAQ:STX) by 25.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,495 shares of the data storage provider’s stock after selling 4,833 shares during the quarter. First National Trust Co’s holdings in Seagate Technology were worth $607,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Davis R M Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $275,000. Bristol Advisors LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $711,000. Windward Capital Management Co. CA grew its holdings in shares of Seagate Technology by 95.8% during the 4th quarter. Windward Capital Management Co. CA now owns 41,722 shares of the data storage provider’s stock worth $1,746,000 after purchasing an additional 20,409 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $346,000. Finally, New England Research & Management Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $205,000. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
STX has been the topic of several recent research reports. Zacks Investment Research raised Seagate Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Craig Hallum raised Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Monday, October 2nd. ValuEngine raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Mizuho reissued a “hold” rating and set a $36.00 price objective on shares of Seagate Technology in a report on Monday, October 9th. Finally, Cowen reissued a “hold” rating and set a $36.00 price objective on shares of Seagate Technology in a report on Friday, October 13th. Four analysts have rated the stock with a sell rating, twenty-three have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.39.
In other 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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David H. Morton, Jr. sold 7,909 shares of Seagate Technology stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $40.00, for a total value of $316,360.00. Following the completion of the sale, the chief financial officer now directly owns 25,561 shares of the company’s stock, valued at $1,022,440. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,744 shares of company stock valued at $9,317,320. Corporate insiders own 0.87% of the company’s stock.
Seagate Technology PLC (STX) opened at $52.62 on Friday. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $52.77. The stock has a market capitalization of $15,400.00, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.68.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. equities research analysts expect that Seagate Technology PLC will post 4.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.52 annualized dividend and a yield of 4.79%. Seagate Technology’s payout ratio is 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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