WBI Investments Inc. decreased its stake in shares of Seagate Technology (NASDAQ:STX) by 18.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,407 shares of the data storage provider’s stock after selling 10,165 shares during the quarter. WBI Investments Inc.’s holdings in Seagate Technology were worth $2,657,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Hanson & Doremus Investment Management increased its holdings in Seagate Technology by 2.6% during the 1st quarter. Hanson & Doremus Investment Management now owns 104,641 shares of the data storage provider’s stock worth $6,124,000 after purchasing an additional 2,668 shares during the period. Toronto Dominion Bank increased its holdings in shares of Seagate Technology by 23.5% in the 1st quarter. Toronto Dominion Bank now owns 153,843 shares of the data storage provider’s stock valued at $9,001,000 after acquiring an additional 29,307 shares during the last quarter. Hosking Partners LLP increased its holdings in shares of Seagate Technology by 4.6% in the 1st quarter. Hosking Partners LLP now owns 470,096 shares of the data storage provider’s stock valued at $27,510,000 after acquiring an additional 20,662 shares during the last quarter. Sfmg LLC purchased a new position in shares of Seagate Technology in the 1st quarter valued at about $248,000. Finally, IFP Advisors Inc increased its holdings in shares of Seagate Technology by 7.6% in the 1st quarter. IFP Advisors Inc now owns 16,778 shares of the data storage provider’s stock valued at $982,000 after acquiring an additional 1,178 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.
In other Seagate Technology news, EVP Jeffrey D. Nygaard sold 2,188 shares of the stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $57.45, for a total transaction of $125,700.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen J. Luczo sold 5,681 shares of the stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $60.00, for a total value of $340,860.00. The disclosure for this sale can be found here. Insiders have sold a total of 176,629 shares of company stock worth $9,951,556 in the last 90 days. 0.87% of the stock is currently owned by company insiders.
Seagate Technology opened at $57.84 on Friday, Marketbeat Ratings reports. The company has a market cap of $16.73 billion, a P/E ratio of 14.15, a PEG ratio of 0.58 and a beta of 1.69. The company has a current ratio of 1.72, a quick ratio of 1.39 and a debt-to-equity ratio of 3.17. Seagate Technology has a 52-week low of $30.60 and a 52-week high of $62.70.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, May 1st. The data storage provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.10. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. Seagate Technology had a return on equity of 105.43% and a net margin of 7.76%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 EPS. research analysts expect that Seagate Technology will post 5.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Wednesday, June 20th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, June 19th. This represents a $2.52 dividend on an annualized basis and a yield of 4.36%. Seagate Technology’s dividend payout ratio is presently 61.17%.
A number of research firms have recently commented on STX. Robert W. Baird increased their price objective on Seagate Technology from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Thursday, April 12th. Mizuho reiterated a “neutral” rating and issued a $53.00 price objective (up previously from $39.00) on shares of Seagate Technology in a report on Monday, January 29th. Royal Bank of Canada increased their price objective on Seagate Technology to $62.00 and gave the company a “market perform” rating in a report on Monday, April 2nd. Finally, Maxim Group reiterated a “hold” rating and issued a $54.00 price objective (up previously from $52.00) on shares of Seagate Technology in a report on Wednesday, May 2nd. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.57.
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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