First Hawaiian Bank bought a new stake in shares of Seagate Technology PLC (NASDAQ:STX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,928 shares of the data storage provider’s stock, valued at approximately $139,000.
Several other large investors also recently bought and sold shares of STX. Quad Cities Investment Group LLC acquired a new position in shares of Seagate Technology during the second quarter worth approximately $124,000. Partners Capital Investment Group LLP acquired a new position in shares of Seagate Technology during the second quarter worth approximately $136,000. Qube Research & Technologies Ltd acquired a new position in shares of Seagate Technology during the second quarter worth approximately $146,000. Zacks Investment Management acquired a new position in shares of Seagate Technology during the second quarter worth approximately $211,000. Finally, Bristol Advisors LLC acquired a new position in shares of Seagate Technology during the second quarter worth approximately $215,000. 83.24% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on STX. Summit Redstone upgraded Seagate Technology to a “hold” rating in a research report on Friday. Robert W. Baird reduced their price objective on Seagate Technology from $56.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday. Summit Insights upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research report on Friday. Loop Capital reduced their price objective on Seagate Technology to $60.00 and set a “buy” rating for the company in a research report on Monday, October 29th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares reiterated a “negative” rating and set a $32.00 price objective (down from $53.00) on shares of Seagate Technology in a research report on Tuesday, October 23rd. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $53.29.
In other Seagate Technology news, EVP James J. Murphy sold 509 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $56.60, for a total value of $28,809.40. Following the transaction, the executive vice president now owns 37,693 shares of the company’s stock, valued at $2,133,423.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Holdings L.P. Valueact purchased 581,291 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was bought at an average cost of $51.36 per share, for a total transaction of $29,855,105.76. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,636,648 shares of company stock worth $239,240,175 and sold 46,086 shares worth $2,529,660. 1.00% of the stock is currently owned by corporate insiders.
STX opened at $44.27 on Friday. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.59 and a beta of 1.71. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.35 and a quick ratio of 1.02. Seagate Technology PLC has a 1-year low of $36.07 and a 1-year high of $62.70.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Friday, November 2nd. The data storage provider reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.15. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Seagate Technology had a return on equity of 120.71% and a net margin of 10.57%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 earnings per share. On average, analysts predict that Seagate Technology PLC will post 6.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 19th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 5.69%. Seagate Technology’s dividend payout ratio is currently 45.74%.
About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
Further Reading: Cash Flow
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