Bristol Advisors LLC purchased a new position in shares of Seagate Technology PLC (NASDAQ:STX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,000 shares of the data storage provider’s stock, valued at approximately $711,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFG Advisors LP boosted its stake in shares of Seagate Technology by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after acquiring an additional 3,638 shares in the last quarter. Balentine LLC boosted its stake in shares of Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after acquiring an additional 1,619 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Seagate Technology during the 2nd quarter worth about $150,000. SpiderRock Advisors LLC boosted its stake in Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after purchasing an additional 5,347 shares during the period. Finally, New England Research & Management Inc. bought a new stake in Seagate Technology during the 4th quarter valued at approximately $205,000. Institutional investors own 91.32% of the company’s stock.
Several analysts recently weighed in on the company. Citigroup increased their target price on Seagate Technology from $34.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 24th. Zacks Investment Research downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Thursday. Mizuho increased their target price on Seagate Technology from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. UBS Group increased their target price on Seagate Technology from $28.00 to $30.00 and gave the company a “sell” rating in a research note on Tuesday, October 24th. Finally, Maxim Group restated a “hold” rating and set a $44.00 target price (up previously from $43.00) on shares of Seagate Technology in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Seagate Technology has an average rating of “Hold” and a consensus price target of $43.39.
In related news, insider Philip G. Brace sold 5,403 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $36.79, for a total transaction of $198,776.37. Following the sale, the insider now directly owns 33,069 shares in the company, valued at approximately $1,216,608.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Stephen J. Luczo sold 100,000 shares of the stock in a transaction that occurred on 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 sale, the chairman now owns 95,420 shares in the company, valued at $4,674,625.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 194,744 shares of company stock valued at $9,075,320. 0.87% of the stock is currently owned by insiders.
Seagate Technology PLC (STX) traded up $1.94 during trading on Friday, reaching $49.01. The company’s stock had a trading volume of 6,246,500 shares, compared to its average volume of 6,919,800. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The firm has a market cap of $14,890.00, a PE ratio of 18.56, a price-to-earnings-growth ratio of 0.57 and a beta of 1.68. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96.
Seagate Technology (NASDAQ:STX) last issued its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm posted $0.99 EPS. Seagate Technology’s quarterly revenue was down 5.9% compared to the same quarter last year. sell-side analysts expect that Seagate Technology PLC will post 4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.14%. Seagate Technology’s payout ratio is presently 95.45%.
About Seagate Technology
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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