Gateway Investment Advisers LLC reduced its holdings in Seagate Technology PLC (NASDAQ:STX) by 8.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,526 shares of the data storage provider’s stock after selling 958 shares during the period. Gateway Investment Advisers LLC’s holdings in Seagate Technology were worth $496,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Investment Management LLC grew its holdings in Seagate Technology by 41.4% in the first quarter. Redwood Investment Management LLC now owns 26,569 shares of the data storage provider’s stock valued at $1,272,000 after purchasing an additional 7,784 shares during the period. Horizon Investments LLC acquired a new stake in Seagate Technology in the first quarter valued at approximately $287,000. Cleararc Capital Inc. acquired a new stake in Seagate Technology in the first quarter valued at approximately $205,000. Deutsche Bank AG grew its holdings in Seagate Technology by 28.9% in the fourth quarter. Deutsche Bank AG now owns 1,957,420 shares of the data storage provider’s stock valued at $75,531,000 after purchasing an additional 439,327 shares during the period. Finally, Jabodon PT Co. acquired a new stake in Seagate Technology in the first quarter valued at approximately $2,044,000. 85.35% of the stock is currently owned by institutional investors.
In related news, Director Stephen J. Luczo sold 10,000 shares of Seagate Technology stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $47.00, for a total transaction of $470,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Luczo sold 99,999 shares of Seagate Technology stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $49.33, for a total value of $4,932,950.67. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,999 shares of company stock worth $5,876,251. 1.00% of the stock is currently owned by company insiders.
Seagate Technology stock traded up $0.37 during trading on Tuesday, reaching $47.74. 54,850 shares of the company were exchanged, compared to its average volume of 2,259,004. Seagate Technology PLC has a 52-week low of $35.38 and a 52-week high of $57.68. The firm has a market capitalization of $13.09 billion, a P/E ratio of 8.67, a P/E/G ratio of 8.32 and a beta of 1.68. The company has a quick ratio of 1.16, a current ratio of 1.62 and a debt-to-equity ratio of 2.68. The firm’s 50 day moving average price is $46.10.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 30th. The data storage provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.12. Seagate Technology had a return on equity of 90.33% and a net margin of 13.73%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the business posted $1.46 earnings per share. The firm’s revenue was down 17.5% compared to the same quarter last year. Equities research analysts predict that Seagate Technology PLC will post 4.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, June 19th were given a dividend of $0.63 per share. The ex-dividend date was Tuesday, June 18th. This represents a $2.52 dividend on an annualized basis and a yield of 5.28%. Seagate Technology’s payout ratio is 45.74%.
STX has been the topic of several research analyst reports. Argus raised their price objective on First Solar to $66.00 and gave the company an “average” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their price target on Valener from C$22.00 to C$26.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 28th. BidaskClub lowered YRC Worldwide from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Wedbush raised Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. Finally, ValuEngine lowered TheStreet from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $46.06.
Seagate Technology 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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