Ellington Management Group LLC purchased a new stake in shares of Seagate Technology (NASDAQ:STX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,900 shares of the data storage provider’s stock, valued at approximately $498,000.
A number of other institutional investors have also recently made changes to their positions in STX. Toronto Dominion Bank grew its stake in Seagate Technology by 13.7% in the fourth quarter. Toronto Dominion Bank now owns 124,536 shares of the data storage provider’s stock worth $5,210,000 after purchasing an additional 14,969 shares in the last quarter. Assetmark Inc. boosted its position in Seagate Technology by 43.5% during the 3rd quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock valued at $4,835,000 after acquiring an additional 44,171 shares in the last quarter. Eagle Asset Management Inc. boosted its position in Seagate Technology by 12.3% during the 4th quarter. Eagle Asset Management Inc. now owns 887,990 shares of the data storage provider’s stock valued at $37,517,000 after acquiring an additional 97,072 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in Seagate Technology during the 4th quarter valued at $346,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Seagate Technology in the 4th quarter worth $420,000. 88.84% of the stock is owned by institutional investors.
In other news, insider Stephen J. Luczo sold 341,738 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total value of $18,795,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David H. Morton, Jr. sold 40,263 shares of Seagate Technology stock in a transaction dated Monday, January 8th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 815,428 shares of company stock worth $43,782,101 in the last ninety days. 0.87% of the stock is currently owned by insiders.
Shares of STX opened at $56.62 on Friday. The firm has a market capitalization of $16,784.88, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.78 and a beta of 1.68. Seagate Technology has a fifty-two week low of $30.60 and a fifty-two week high of $61.19. 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 issued its earnings results on Monday, January 29th. The data storage provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. sell-side analysts forecast that Seagate Technology will post 4.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is 61.17%.
A number of analysts have recently weighed in on STX shares. TheStreet raised Seagate Technology from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. Craig Hallum reiterated a “buy” rating and set a $56.00 price objective (up previously from $50.00) on shares of Seagate Technology in a research note on Tuesday, January 9th. Loop Capital restated a “buy” rating and issued a $55.00 price target on shares of Seagate Technology in a research note on Tuesday, January 9th. They noted that the move was a valuation call. Vetr lowered Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $45.46 price target for the company. in a research note on Tuesday, December 12th. Finally, Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Friday, January 5th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $52.28.
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Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.
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