GWM Advisors LLC lifted its position in Seagate Technology PLC (NASDAQ:STX) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,308 shares of the data storage provider’s stock after acquiring an additional 3,286 shares during the quarter. GWM Advisors LLC’s holdings in Seagate Technology were worth $1,951,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of STX. Balentine LLC purchased a new stake in Seagate Technology in the 1st quarter worth approximately $25,000. Quadrant Capital Group LLC lifted its position in Seagate Technology by 346.3% in the 4th quarter. Quadrant Capital Group LLC now owns 540 shares of the data storage provider’s stock worth $28,000 after buying an additional 419 shares in the last quarter. Paragon Capital Management LLC purchased a new stake in Seagate Technology in the 1st quarter worth approximately $28,000. WASHINGTON TRUST Co purchased a new stake in Seagate Technology in the 1st quarter worth approximately $29,000. Finally, First Horizon Advisors Inc. lifted its position in Seagate Technology by 145.6% in the 1st quarter. First Horizon Advisors Inc. now owns 587 shares of the data storage provider’s stock worth $29,000 after buying an additional 348 shares in the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.
In related news, SVP Ban Seng Teh sold 498 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $52.80, for a total transaction of $26,294.40. Following the completion of the transaction, the senior vice president now directly owns 11,197 shares of the company’s stock, valued at approximately $591,201.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen J. Luczo sold 7,000 shares of Seagate Technology stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $52.35, for a total transaction of $366,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,493 shares of company stock valued at $1,059,254 over the last ninety days. 1.12% of the stock is owned by insiders.
A number of equities research analysts have issued reports on STX shares. Robert W. Baird reiterated a “buy” rating and issued a $65.00 target price on shares of Seagate Technology in a research report on Thursday, April 23rd. Zacks Investment Research lowered shares of Seagate Technology from a “hold” rating to a “sell” rating and set a $53.00 price target on the stock. in a research note on Friday, July 24th. Craig Hallum upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein began coverage on shares of Seagate Technology in a research note on Tuesday, July 14th. They set a “market perform” rating and a $45.00 price target on the stock. Finally, Wells Fargo & Co dropped their price target on shares of Seagate Technology from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $53.00.
NASDAQ:STX opened at $45.22 on Friday. The company has a 50-day moving average of $48.53 and a 200-day moving average of $50.95. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 6.91 and a beta of 1.03. Seagate Technology PLC has a 52 week low of $39.02 and a 52 week high of $64.17. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.08 and a current ratio of 1.51.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $1.20 EPS for the quarter, hitting analysts’ consensus estimates of $1.20. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.62 billion. Seagate Technology had a net margin of 9.55% and a return on equity of 68.62%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. Sell-side analysts forecast that Seagate Technology PLC will post 5.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 23rd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date of this dividend is Tuesday, September 22nd. Seagate Technology’s payout ratio is 56.89%.
Seagate Technology Company Profile
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.
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