Eagle Asset Management Inc. Has $37.52 Million Holdings in Seagate Technology PLC (STX)

Eagle Asset Management Inc. raised its holdings in Seagate Technology PLC (NASDAQ:STX) by 12.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 887,990 shares of the data storage provider’s stock after purchasing an additional 97,072 shares during the period. Eagle Asset Management Inc.’s holdings in Seagate Technology were worth $37,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in STX. Teachers Advisors LLC increased its holdings in Seagate Technology by 4.0% in the 2nd quarter. Teachers Advisors LLC now owns 60,852 shares of the data storage provider’s stock valued at $2,358,000 after buying an additional 2,325 shares during the period. TIAA CREF Investment Management LLC increased its holdings in Seagate Technology by 53.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 74,937 shares of the data storage provider’s stock valued at $2,904,000 after buying an additional 26,097 shares during the period. Dimensional Fund Advisors LP increased its holdings in Seagate Technology by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,216,875 shares of the data storage provider’s stock valued at $47,156,000 after buying an additional 53,722 shares during the period. Macquarie Group Ltd. increased its holdings in Seagate Technology by 121.6% in the 2nd quarter. Macquarie Group Ltd. now owns 19,500 shares of the data storage provider’s stock valued at $756,000 after buying an additional 10,700 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Seagate Technology by 3.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 37,874 shares of the data storage provider’s stock valued at $1,468,000 after buying an additional 1,322 shares during the period. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology PLC (STX) opened at $51.42 on Friday. The stock has a market cap of $14,880.00, a PE ratio of 23.48, a P/E/G ratio of 0.68 and a beta of 1.88. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $56.45.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.86 billion. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. analysts forecast that Seagate Technology PLC will post 4.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.52 annualized dividend and a yield of 4.90%. Seagate Technology’s dividend payout ratio (DPR) is 115.07%.

In other Seagate Technology news, Director Jay L. Geldmacher sold 5,365 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $40.00, for a total transaction of $214,600.00. Following the transaction, the director now directly owns 8,715 shares in the company, valued at approximately $348,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward J. Zander sold 15,089 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $38.79, for a total transaction of $585,302.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 779,394 shares of company stock worth $41,495,557. 0.87% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on the stock. Vetr lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $56.12 price target on the stock. in a report on Wednesday. Citigroup boosted their price target on shares of Seagate Technology from $46.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Robert W. Baird upped their target price on shares of Seagate Technology from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Morgan Stanley upped their target price on shares of Seagate Technology from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, BMO Capital Markets upped their target price on shares of Seagate Technology to $53.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Seagate Technology has an average rating of “Hold” and a consensus target price of $49.76.

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Seagate Technology Company Profile

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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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