KSA Capital Management LLC boosted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 80.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,000 shares of the data storage provider’s stock after purchasing an additional 8,000 shares during the quarter. Seagate Technology comprises approximately 3.1% of KSA Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. KSA Capital Management LLC’s holdings in Seagate Technology were worth $597,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in STX. Asset Management One Co. Ltd. lifted its holdings in shares of Seagate Technology by 1,037.1% during the third quarter. Asset Management One Co. Ltd. now owns 446,479 shares of the data storage provider’s stock worth $14,810,000 after buying an additional 407,216 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Seagate Technology by 7.8% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 75,968 shares of the data storage provider’s stock worth $2,530,000 after buying an additional 5,500 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Seagate Technology by 139.1% during the third quarter. Engineers Gate Manager LP now owns 62,784 shares of the data storage provider’s stock worth $2,083,000 after buying an additional 36,526 shares in the last quarter. Bell Bank lifted its holdings in shares of Seagate Technology by 3.5% during the third quarter. Bell Bank now owns 82,787 shares of the data storage provider’s stock worth $2,746,000 after buying an additional 2,807 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Seagate Technology by 56.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 281,871 shares of the data storage provider’s stock worth $9,350,000 after buying an additional 101,153 shares in the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on STX. Vetr downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $41.79 target price for the company. in a report on Thursday, November 23rd. BMO Capital Markets reissued a “hold” rating and set a $40.00 target price on shares of Seagate Technology in a report on Monday, October 23rd. Guggenheim reissued a “hold” rating on shares of Seagate Technology in a report on Monday, October 23rd. BidaskClub raised Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 25th. Finally, Argus reaffirmed a “hold” rating and issued a $40.00 price target on shares of Seagate Technology in a research note on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $41.53.
Seagate Technology (NASDAQ:STX) last released its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. equities research analysts forecast that Seagate Technology PLC will post 3.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date is Tuesday, December 19th. Seagate Technology’s dividend payout ratio is presently 95.09%.
In other news, CFO David H. Morton, Jr. sold 7,909 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $316,360.00. Following the sale, the chief financial officer now directly owns 25,561 shares in the company, valued at $1,022,440. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward J. Zander sold 15,089 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,481 shares of company stock worth $1,655,011. Company insiders own 0.87% of the company’s stock.
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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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