Schwab Charles Investment Management Inc. lowered its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,150,388 shares of the data storage provider’s stock after selling 5,782 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.40% of Seagate Technology worth $48,133,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. ValueAct Holdings L.P. increased its position in shares of Seagate Technology by 55.3% during the 3rd quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after purchasing an additional 7,642,835 shares during the period. APG Asset Management N.V. increased its position in shares of Seagate Technology by 4.2% during the 3rd quarter. APG Asset Management N.V. now owns 3,392,370 shares of the data storage provider’s stock valued at $112,525,000 after purchasing an additional 135,300 shares during the period. First Trust Advisors LP increased its position in shares of Seagate Technology by 28.5% during the 3rd quarter. First Trust Advisors LP now owns 3,044,778 shares of the data storage provider’s stock valued at $100,995,000 after purchasing an additional 674,442 shares during the period. Bank of New York Mellon Corp increased its position in shares of Seagate Technology by 39.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock valued at $96,064,000 after purchasing an additional 817,861 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of Seagate Technology by 0.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,445,795 shares of the data storage provider’s stock valued at $94,775,000 after purchasing an additional 7,767 shares during the period. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
In other Seagate Technology news, EVP James J. Murphy sold 14,175 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $55.16, for a total value of $781,893.00. Following the completion of the sale, the executive vice president now owns 24,585 shares of the company’s stock, valued at $1,356,108.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen J. Luczo sold 341,738 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $55.00, for a total value of $18,795,590.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 779,394 shares of company stock valued at $41,495,557. Insiders own 0.87% of the company’s stock.
Several equities analysts have recently issued reports on STX shares. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, October 26th. BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 25th. TheStreet upgraded Seagate Technology from a “c+” rating to a “b-” rating in a report on Tuesday, January 9th. Morgan Stanley lifted their target price on Seagate Technology from $32.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Finally, Vetr cut Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 target price on the stock. in a report on Tuesday, October 31st. 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 assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $49.76.
Seagate Technology PLC (STX) traded up $1.74 on Thursday, reaching $51.37. The company had a trading volume of 3,674,800 shares, compared to its average volume of 5,745,575. The firm has a market capitalization of $14,860.00, a PE ratio of 23.32, a price-to-earnings-growth ratio of 0.65 and a beta of 1.88. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $56.45. 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 (NASDAQ:STX) last released 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. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. research analysts forecast that Seagate Technology PLC will post 4.86 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 given a dividend of $0.63 per share. The ex-dividend date is Tuesday, March 20th. This represents a $2.52 dividend on an annualized basis and a yield of 4.91%. Seagate Technology’s payout ratio is 115.07%.
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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