Nomura Asset Management Co. Ltd. lessened its stake in shares of Seagate Technology (NASDAQ:STX) by 72.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,536 shares of the data storage provider’s stock after selling 122,558 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Seagate Technology were worth $1,989,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. ValueAct Holdings L.P. grew its position in shares of Seagate Technology by 55.3% in the third 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. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $87,422,000. UBS Asset Management Americas Inc. grew its position in shares of Seagate Technology by 66.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,113,408 shares of the data storage provider’s stock valued at $88,425,000 after purchasing an additional 846,230 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Seagate Technology by 39.4% in the third 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, Carillon Tower Advisers Inc. acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $23,572,000. Institutional investors and hedge funds own 88.84% of the company’s stock.
In related news, CFO David H. Morton, Jr. sold 40,263 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $48.78, for a total value of $1,964,029.14. Following the transaction, the chief financial officer now owns 65,824 shares of the company’s stock, valued at approximately $3,210,894.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David H. Morton, Jr. sold 35,142 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $55.00, for a total transaction of $1,932,810.00. Following the completion of the transaction, the chief financial officer now directly owns 8,540 shares in the company, valued at approximately $469,700. The disclosure for this sale can be found here. In the last ninety days, insiders sold 815,428 shares of company stock worth $43,782,101. 0.87% of the stock is owned by insiders.
Shares of STX traded down $1.63 during trading hours on Friday, hitting $56.62. The stock had a trading volume of 3,099,885 shares, compared to its average volume of 4,166,017. The company has a debt-to-equity ratio of 4.07, a current ratio of 1.58 and a quick ratio of 1.25. The company has a market cap of $16,591.20, a PE ratio of 13.74, a P/E/G ratio of 0.77 and a beta of 1.68. Seagate Technology has a 1-year low of $30.60 and a 1-year high of $61.19.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $2.86 billion. During the same quarter last year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. analysts expect that Seagate Technology will post 4.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, March 20th. This represents a $2.52 annualized dividend and a yield of 4.45%. Seagate Technology’s payout ratio is 61.17%.
Several equities research analysts recently issued reports on STX shares. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Friday, January 5th. TheStreet upgraded Seagate Technology from a “c+” rating to a “b-” rating in a research note on Tuesday, January 9th. Vetr cut Seagate Technology from a “buy” rating to a “hold” rating and set a $56.12 target price for the company. in a research note on Thursday, March 1st. Wells Fargo reiterated a “market perform” rating and issued a $45.00 price target (up from $38.00) on shares of Seagate Technology in a research note on Tuesday, January 9th. Finally, Cross Research upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.28.
COPYRIGHT VIOLATION WARNING: This article was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright law. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/04/07/seagate-technology-plc-stx-holdings-cut-by-nomura-asset-management-co-ltd.html.
Seagate Technology 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.
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.