Dupont Capital Management Corp Decreases Position in Seagate Technology PLC (STX)

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Dupont Capital Management Corp trimmed its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 75.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,917 shares of the data storage provider’s stock after selling 51,249 shares during the period. Dupont Capital Management Corp’s holdings in Seagate Technology were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in STX. TIAA CREF Investment Management LLC lifted its holdings in Seagate Technology by 4.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 6,800 shares of the data storage provider’s stock worth $322,000 after buying an additional 298 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Seagate Technology by 1.1% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 36,971 shares of the data storage provider’s stock worth $1,427,000 after buying an additional 400 shares in the last quarter. JGP Wealth Management LLC lifted its holdings in Seagate Technology by 0.8% in the 3rd quarter. JGP Wealth Management LLC now owns 56,376 shares of the data storage provider’s stock worth $2,669,000 after buying an additional 449 shares in the last quarter. Navellier & Associates Inc lifted its holdings in Seagate Technology by 0.7% in the 4th quarter. Navellier & Associates Inc now owns 85,811 shares of the data storage provider’s stock worth $3,311,000 after buying an additional 634 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Seagate Technology by 4.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 15,035 shares of the data storage provider’s stock worth $580,000 after buying an additional 670 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

In other Seagate Technology news, Director Holdings L.P. Valueact acquired 5,415 shares of the stock in a transaction that occurred on Friday, November 23rd. The stock was acquired at an average price of $41.99 per share, with a total value of $227,375.85. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Valueact Capital Master Fund, acquired 2,225,000 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were acquired at an average cost of $44.90 per share, with a total value of $99,902,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 5,219,295 shares of company stock valued at $229,489,191. Insiders own 1.00% of the company’s stock.

Shares of Seagate Technology stock opened at $45.74 on Thursday. The stock has a market capitalization of $12.90 billion, a PE ratio of 8.30, a P/E/G ratio of 0.78 and a beta of 1.61. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 2.24. Seagate Technology PLC has a 1 year low of $35.38 and a 1 year high of $62.70.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Monday, February 4th. The data storage provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.71 billion. Seagate Technology had a net margin of 14.77% and a return on equity of 105.74%. During the same quarter in the prior year, the business posted $1.48 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Sell-side analysts forecast that Seagate Technology PLC will post 4.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date is Tuesday, March 19th. Seagate Technology’s dividend payout ratio is presently 45.74%.

A number of brokerages have commented on STX. ValuEngine upgraded shares of Seagate Technology from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Tuesday, February 5th. Maxim Group reiterated a “hold” rating and issued a $49.00 price objective (down previously from $51.00) on shares of Seagate Technology in a report on Tuesday, February 5th. Craig Hallum cut their price objective on shares of Seagate Technology from $47.00 to $41.00 and set a “hold” rating on the stock in a report on Tuesday, February 5th. Finally, Wells Fargo & Co cut their price objective on shares of Seagate Technology from $50.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, February 5th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the stock. Seagate Technology currently has an average rating of “Hold” and a consensus target price of $47.01.

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Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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

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