Sentinel Trust Co. LBA grew its holdings in shares of Seagate Technology (NASDAQ:STX) by 24.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,405 shares of the data storage provider’s stock after buying an additional 5,020 shares during the quarter. Sentinel Trust Co. LBA’s holdings in Seagate Technology were worth $1,063,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new stake in Seagate Technology in the second quarter valued at $638,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Seagate Technology during the third quarter worth $468,000. Victory Capital Management Inc. raised its holdings in shares of Seagate Technology by 2,025.7% during the third quarter. Victory Capital Management Inc. now owns 108,793 shares of the data storage provider’s stock worth $3,609,000 after purchasing an additional 103,675 shares during the period. Swiss National Bank raised its holdings in shares of Seagate Technology by 1.6% during the third quarter. Swiss National Bank now owns 1,092,716 shares of the data storage provider’s stock worth $36,245,000 after purchasing an additional 17,300 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Seagate Technology by 19.4% during the third quarter. Sei Investments Co. now owns 114,184 shares of the data storage provider’s stock worth $3,788,000 after purchasing an additional 18,566 shares during the period. Institutional investors own 88.84% of the company’s stock.
STX has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Friday, January 5th. TheStreet upgraded shares of Seagate Technology from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. Vetr lowered shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $56.12 price objective for the company. in a research report on Thursday, March 1st. Wells Fargo reaffirmed a “market perform” rating and set a $45.00 price objective (up from $38.00) on shares of Seagate Technology in a research note on Tuesday, January 9th. Finally, Cross Research raised shares of 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 given a hold rating, five have given a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $52.28.
In related news, insider Stephen J. Luczo sold 5,380 shares of Seagate Technology stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $60.00, for a total value of $322,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Stephen J. Luczo sold 100,000 shares of Seagate Technology stock in a transaction dated 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 sale, the chairman now owns 95,420 shares of the company’s stock, valued at $4,674,625.80. The disclosure for this sale can be found here. Insiders sold 815,428 shares of company stock valued at $43,782,101 over the last ninety days. 0.87% of the stock is currently owned by company insiders.
Shares of NASDAQ STX traded down $1.63 during midday trading on Friday, reaching $56.62. 3,101,031 shares of the company traded hands, compared to its average volume of 4,166,017. The stock has a market cap of $16,591.20, a PE ratio of 13.74, a PEG ratio of 0.77 and a beta of 1.68. Seagate Technology has a 12 month low of $30.60 and a 12 month high of $61.19. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.25 and a current ratio of 1.58.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $2.86 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. analysts predict that Seagate Technology will post 4.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, March 20th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.45%. Seagate Technology’s dividend payout ratio is 61.17%.
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About Seagate Technology
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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