Teachers Advisors LLC increased its holdings in shares of Seagate Technology (NASDAQ:STX) by 23.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,313 shares of the data storage provider’s stock after acquiring an additional 13,790 shares during the quarter. Teachers Advisors LLC’s holdings in Seagate Technology were worth $3,067,000 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 stock. Kwmg LLC raised its stake in Seagate Technology by 2.7% during the fourth quarter. Kwmg LLC now owns 41,817 shares of the data storage provider’s stock worth $1,750,000 after acquiring an additional 1,117 shares during the period. Burney Co. raised its stake in Seagate Technology by 17.3% during the fourth quarter. Burney Co. now owns 7,771 shares of the data storage provider’s stock worth $325,000 after acquiring an additional 1,146 shares during the period. Raymond James Trust N.A. raised its stake in Seagate Technology by 12.8% during the fourth quarter. Raymond James Trust N.A. now owns 11,021 shares of the data storage provider’s stock worth $461,000 after acquiring an additional 1,250 shares during the period. MML Investors Services LLC raised its stake in Seagate Technology by 9.3% during the fourth quarter. MML Investors Services LLC now owns 15,227 shares of the data storage provider’s stock worth $637,000 after acquiring an additional 1,290 shares during the period. Finally, CIBC Asset Management Inc raised its stake in Seagate Technology by 5.0% during the fourth quarter. CIBC Asset Management Inc now owns 31,807 shares of the data storage provider’s stock worth $1,331,000 after acquiring an additional 1,501 shares during the period. Hedge funds and other institutional investors own 89.00% of the company’s stock.
In related news, Director Chong Sup Park sold 4,026 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.22, for a total transaction of $218,289.72. Following the completion of the sale, the director now directly owns 8,715 shares of the company’s stock, valued at $472,527.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen J. Luczo sold 341,738 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total transaction of $18,795,590.00. The disclosure for this sale can be found here. Insiders sold 662,785 shares of company stock valued at $36,396,992 over the last quarter. Insiders own 0.87% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Thursday. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $51.00 to $72.00 in a research note on Monday, April 9th. ValuEngine upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Royal Bank of Canada increased their price objective on shares of Seagate Technology to $62.00 and gave the stock a “market perform” rating in a research note on Monday, April 2nd. Finally, Cross Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.51.
Seagate Technology stock opened at $60.61 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 4.07. The company has a market capitalization of $16,679.49, a PE ratio of 14.71, a P/E/G 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 $61.31.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $1.38 earnings per share. sell-side analysts anticipate that Seagate Technology will post 4.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Tuesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is presently 61.17%.
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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.
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