Nisa Investment Advisors LLC cut its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,608 shares of the data storage provider’s stock after selling 3,681 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Seagate Technology were worth $1,741,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in Seagate Technology by 659.7% during the second quarter. Franklin Resources Inc. now owns 167,886 shares of the data storage provider’s stock valued at $6,506,000 after purchasing an additional 145,787 shares during the period. Teachers Advisors LLC lifted its position in Seagate Technology by 4.0% during the second quarter. Teachers Advisors LLC now owns 60,852 shares of the data storage provider’s stock valued at $2,358,000 after purchasing an additional 2,325 shares during the period. TIAA CREF Investment Management LLC lifted its position in Seagate Technology by 53.4% during the second quarter. TIAA CREF Investment Management LLC now owns 74,937 shares of the data storage provider’s stock valued at $2,904,000 after purchasing an additional 26,097 shares during the period. Nationwide Fund Advisors lifted its position in Seagate Technology by 5.1% during the second quarter. Nationwide Fund Advisors now owns 274,831 shares of the data storage provider’s stock valued at $10,650,000 after purchasing an additional 13,430 shares during the period. Finally, Profund Advisors LLC lifted its position in Seagate Technology by 5.5% during the second quarter. Profund Advisors LLC now owns 24,971 shares of the data storage provider’s stock valued at $968,000 after purchasing an additional 1,302 shares during the period. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Jay L. Geldmacher sold 5,365 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $40.00, for a total transaction of $214,600.00. Following the completion of the sale, the director now owns 8,715 shares of the company’s stock, valued at approximately $348,600. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Philip G. Brace sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $48.40, for a total transaction of $242,000.00. Following the sale, the insider now directly owns 16,069 shares of the company’s stock, valued at approximately $777,739.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,744 shares of company stock valued at $9,317,320. Insiders own 0.87% of the company’s stock.
A number of research analysts recently issued reports on STX shares. Cowen restated a “hold” rating and set a $36.00 target price on shares of Seagate Technology in a research report on Friday, October 13th. BidaskClub downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Jefferies Group set a $29.00 target price on shares of Seagate Technology and gave the company a “hold” rating in a research report on Sunday, October 15th. Mizuho restated a “hold” rating and set a $36.00 target price on shares of Seagate Technology in a research report on Monday, October 9th. Finally, Barclays upped their price objective on shares of Seagate Technology from $29.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.39.
Seagate Technology PLC (NASDAQ STX) opened at $52.62 on Friday. Seagate Technology PLC has a 1 year low of $30.60 and a 1 year high of $52.77. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The firm has a market cap of $15,400.00, a PE ratio of 19.93, a P/E/G ratio of 0.74 and a beta of 1.68.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.52 annualized dividend and a dividend yield of 4.79%. Seagate Technology’s dividend payout ratio (DPR) is presently 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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