HighPoint Advisor Group LLC bought a new stake in Seagate Technology PLC (NASDAQ:STX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 9,213 shares of the data storage provider’s stock, valued at approximately $457,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its position in shares of Seagate Technology by 13.7% in the 4th quarter. Toronto Dominion Bank now owns 124,536 shares of the data storage provider’s stock valued at $5,210,000 after purchasing an additional 14,969 shares during the period. Assetmark Inc. raised its stake in Seagate Technology by 43.5% during the 3rd quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock valued at $4,835,000 after acquiring an additional 44,171 shares during the last quarter. Eagle Asset Management Inc. raised its stake in Seagate Technology by 12.3% during the 4th quarter. Eagle Asset Management Inc. now owns 887,990 shares of the data storage provider’s stock valued at $37,517,000 after acquiring an additional 97,072 shares during the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in Seagate Technology during the 4th quarter valued at approximately $346,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Seagate Technology during the 4th quarter valued at approximately $420,000. 88.82% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Philip G. Brace sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $46.44, for a total value of $557,280.00. Following the completion of the transaction, the insider now directly owns 27,069 shares of the company’s stock, valued at approximately $1,257,084.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David H. Morton, Jr. sold 40,263 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $48.78, for a total value of $1,964,029.14. Following the completion of the transaction, the chief financial officer now directly owns 65,824 shares of the company’s stock, valued at $3,210,894.72. The disclosure for this sale can be found here. Insiders sold a total of 810,048 shares of company stock valued at $43,459,301 over the last ninety days. 0.87% of the stock is currently owned by company insiders.
Several research firms have commented on STX. Citigroup upped their price objective on Seagate Technology from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, March 9th. UBS set a $43.00 price objective on Seagate Technology and gave the company a “sell” rating in a research note on Tuesday, March 6th. Vetr downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $56.12 price objective for the company. in a research note on Thursday, March 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $49.00 price objective on shares of Seagate Technology in a research note on Thursday, February 22nd. Finally, Robert W. Baird upped their price objective on Seagate Technology from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Seagate Technology currently has an average rating of “Hold” and an average price target of $50.60.
STX stock opened at $59.91 on Wednesday. The stock has a market capitalization of $17,203.57, a P/E ratio of 27.23, a PEG ratio of 0.80 and a beta of 1.84. Seagate Technology PLC has a one year low of $30.60 and a one year high of $61.19. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.25 and a current ratio of 1.58.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the business posted $1.38 EPS. Seagate Technology’s quarterly revenue was up .7% on a year-over-year basis. research analysts anticipate that Seagate Technology PLC will post 4.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.21%. The ex-dividend date is Tuesday, March 20th. Seagate Technology’s payout ratio is currently 114.55%.
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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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