Nisa Investment Advisors LLC lessened its stake in Seagate Technology PLC (NASDAQ:STX) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,608 shares of the data storage provider’s stock after selling 3,681 shares during the period. Nisa Investment Advisors LLC’s holdings in Seagate Technology were worth $1,741,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in STX. ValueAct Holdings L.P. raised its stake in Seagate Technology by 55.3% in the 3rd quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after purchasing an additional 7,642,835 shares during the last quarter. Janus Henderson Group PLC raised its stake in Seagate Technology by 7,384.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock valued at $104,662,000 after purchasing an additional 2,664,861 shares during the last quarter. Vanguard Group Inc. raised its stake in Seagate Technology by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after purchasing an additional 2,292,075 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Seagate Technology by 39.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock valued at $96,064,000 after purchasing an additional 817,861 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Seagate Technology by 98.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,415,048 shares of the data storage provider’s stock valued at $54,833,000 after purchasing an additional 700,726 shares during the last quarter. 91.45% of the stock is owned by institutional investors and hedge funds.
Shares of Seagate Technology PLC (NASDAQ STX) traded up $1.35 during midday trading on Monday, hitting $49.17. The stock had a trading volume of 3,380,000 shares, compared to its average volume of 5,850,000. The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 4.07. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $56.45. The firm has a market cap of $14,230.00, a price-to-earnings ratio of 22.45, a PEG ratio of 0.63 and a beta of 1.88.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.86 billion. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. sell-side analysts forecast that Seagate Technology PLC will post 4.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.52 annualized dividend and a dividend yield of 5.13%. Seagate Technology’s dividend payout ratio (DPR) is currently 115.07%.
In related news, Director Chong Sup Park sold 4,026 shares of Seagate Technology stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $54.22, for a total value of $218,289.72. Following the sale, the director now directly owns 8,715 shares in the company, valued at $472,527.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Edward J. Zander sold 15,089 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. Insiders sold a total of 779,394 shares of company stock worth $41,495,557 over the last quarter. Company insiders own 0.87% of the company’s stock.
A number of brokerages have issued reports on STX. BidaskClub raised Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 8th. Robert W. Baird raised their target price on Seagate Technology from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Vetr downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $41.79 target price for the company. in a research note on Thursday, November 23rd. Mizuho reiterated a “neutral” rating and set a $53.00 price target (up from $39.00) on shares of Seagate Technology in a report on Monday, January 29th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $40.00 price target on shares of Seagate Technology in a report on Monday, October 23rd. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $49.76.
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About Seagate Technology
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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