Seagate Technology PLC (NASDAQ:STX) Stake Decreased by Hancock Whitney Corp

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Hancock Whitney Corp lessened its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,806 shares of the data storage provider’s stock after selling 3,516 shares during the quarter. Hancock Whitney Corp’s holdings in Seagate Technology were worth $1,427,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in Seagate Technology by 104.0% in the first quarter. The Manufacturers Life Insurance Company now owns 243,134 shares of the data storage provider’s stock valued at $11,644,000 after purchasing an additional 123,955 shares in the last quarter. Duality Advisers LP bought a new position in Seagate Technology during the first quarter worth about $498,000. Commonwealth Equity Services LLC increased its holdings in Seagate Technology by 12.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 60,329 shares of the data storage provider’s stock valued at $2,889,000 after buying an additional 6,699 shares during the period. Simmons Bank bought a new stake in shares of Seagate Technology during the 1st quarter valued at approximately $220,000. Finally, Van Cleef Asset Management Inc acquired a new stake in Seagate Technology during the 1st quarter worth approximately $206,000. Hedge funds and other institutional investors own 85.51% of the company’s stock.

In related news, Director Stephen J. Luczo sold 99,999 shares of Seagate Technology stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $49.33, for a total transaction of $4,932,950.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

STX has been the subject of several recent analyst reports. Craig Hallum upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, May 1st. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Wednesday, May 1st. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Friday, April 26th. Argus upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, May 3rd. Finally, Cleveland Research began coverage on shares of Seagate Technology in a report on Friday, June 7th. They set a “hold” rating on the stock. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. Seagate Technology has a consensus rating of “Hold” and an average target price of $46.75.

Seagate Technology stock opened at $44.56 on Friday. The stock has a market capitalization of $12.08 billion, a PE ratio of 8.09, a PEG ratio of 7.55 and a beta of 1.66. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.62 and a quick ratio of 1.16. Seagate Technology PLC has a 12-month low of $35.38 and a 12-month high of $59.93.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 30th. The data storage provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.12. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.32 billion. Seagate Technology had a net margin of 13.73% and a return on equity of 90.33%. The business’s revenue was down 17.5% on a year-over-year basis. During the same quarter last year, the business earned $1.46 EPS. Research analysts forecast that Seagate Technology PLC will post 4.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 19th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $2.52 annualized dividend and a dividend yield of 5.66%. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.

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About Seagate Technology

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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