Advisory Services Network LLC raised its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 15.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,854 shares of the data storage provider’s stock after acquiring an additional 1,809 shares during the period. Advisory Services Network LLC’s holdings in Seagate Technology were worth $580,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. TIAA CREF Investment Management LLC lifted its stake in shares of 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 worth $2,904,000 after purchasing an additional 26,097 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of 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 worth $47,156,000 after purchasing an additional 53,722 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Seagate Technology by 121.6% in the 2nd quarter. Macquarie Group Ltd. now owns 19,500 shares of the data storage provider’s stock worth $756,000 after purchasing an additional 10,700 shares during the period. California State Teachers Retirement System bought a new position in shares of Seagate Technology in the 2nd quarter worth approximately $638,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Seagate Technology by 67.7% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,900 shares of the data storage provider’s stock worth $422,000 after purchasing an additional 4,400 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.
In other Seagate Technology news, Director Chong Sup Park sold 4,026 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.22, for a total transaction of $218,289.72. Following the completion of the sale, the director now directly owns 8,715 shares of the company’s stock, valued at approximately $472,527.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen J. Luczo sold 341,738 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total transaction of $18,795,590.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 779,394 shares of company stock valued at $41,495,557. Insiders own 0.87% of the company’s stock.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the firm posted $1.38 EPS. The company’s revenue was up .7% on a year-over-year basis. equities research analysts anticipate that Seagate Technology PLC will post 4.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Tuesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is currently 115.07%.
STX has been the topic of several recent research reports. FBN Securities reiterated a “sector perform” rating and issued a $40.00 price objective (up previously from $32.00) on shares of Seagate Technology in a research note on Monday, October 23rd. Mizuho increased their price objective on shares of Seagate Technology from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. KeyCorp reiterated a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Guggenheim restated a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Finally, BMO Capital Markets restated a “hold” rating and set a $40.00 target price on shares of Seagate Technology in a research note on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $49.76.
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Seagate Technology 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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