Synovus Financial Corp purchased a new position in Seagate Technology PLC (NASDAQ:STX) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 11,615 shares of the data storage provider’s stock, valued at approximately $487,000.
Other large investors have also recently made changes to their positions in the company. Kwmg LLC raised its stake in shares of Seagate Technology by 2.7% in the fourth quarter. Kwmg LLC now owns 41,817 shares of the data storage provider’s stock worth $1,750,000 after purchasing an additional 1,117 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Seagate Technology by 12.8% in the fourth quarter. Raymond James Trust N.A. now owns 11,021 shares of the data storage provider’s stock worth $461,000 after purchasing an additional 1,250 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Seagate Technology by 6.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,408 shares of the data storage provider’s stock worth $776,000 after purchasing an additional 1,343 shares during the last quarter. Hosking Partners LLP raised its stake in shares of Seagate Technology by 0.3% in the third quarter. Hosking Partners LLP now owns 417,614 shares of the data storage provider’s stock worth $13,852,000 after purchasing an additional 1,366 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Seagate Technology by 5.0% in the fourth quarter. CIBC Asset Management Inc now owns 31,807 shares of the data storage provider’s stock worth $1,331,000 after purchasing an additional 1,501 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.
In other Seagate Technology news, CFO David H. Morton, Jr. sold 40,263 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $48.78, for a total transaction of $1,964,029.14. Following the completion of the transaction, the chief financial officer now directly owns 65,824 shares of the company’s stock, valued at $3,210,894.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Stephen J. Luczo sold 100,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $48.99, for a total value of $4,899,000.00. Following the completion of the transaction, the chairman now directly owns 95,420 shares of the company’s stock, valued at $4,674,625.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 785,520 shares of company stock valued at $41,875,961. 0.87% of the stock is owned by corporate insiders.
Seagate Technology PLC (STX) opened at $53.29 on Friday. Seagate Technology PLC has a twelve month low of $30.60 and a twelve month high of $56.45. The firm has a market capitalization of $14,628.74, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.68 and a beta of 1.88. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the company earned $1.38 earnings per share. Seagate Technology’s revenue was up .7% compared to the same quarter last year. equities research analysts predict that Seagate Technology PLC will post 4.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.73%. The ex-dividend date is Tuesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is 114.55%.
STX has been the subject of several analyst reports. BidaskClub downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Mizuho increased their price objective on Seagate Technology from $39.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Craig Hallum reissued a “buy” rating and issued a $56.00 price objective (up from $50.00) on shares of Seagate Technology in a research note on Tuesday, January 9th. Vetr raised Seagate Technology from a “buy” rating to a “strong-buy” rating and set a $41.39 price objective for the company in a research note on Monday, November 6th. Finally, Zacks Investment Research downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Seagate Technology has a consensus rating of “Hold” and a consensus price target of $49.92.
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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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