Several other hedge funds also recently made changes to their positions in STX. Avestar Capital LLC acquired a new position in Seagate Technology in the fourth quarter valued at approximately $100,000. Certified Advisory Corp lifted its holdings in Seagate Technology by 436.8% in the first quarter. Certified Advisory Corp now owns 1,723 shares of the data storage provider’s stock valued at $100,000 after buying an additional 1,402 shares during the period. Advisors Preferred LLC acquired a new position in Seagate Technology in the first quarter valued at approximately $103,000. SeaCrest Wealth Management LLC acquired a new position in Seagate Technology in the fourth quarter valued at approximately $174,000. Finally, Brave Asset Management Inc. acquired a new position in Seagate Technology in the fourth quarter valued at approximately $203,000. Institutional investors own 88.59% of the company’s stock.
Conning Inc. trimmed its stake in shares of Seagate Technology (NASDAQ:STX) by 91.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,521 shares of the data storage provider’s stock after selling 68,450 shares during the period. Conning Inc.’s holdings in Seagate Technology were worth $382,000 at the end of the most recent reporting period.
Shares of NASDAQ:STX opened at $56.49 on Wednesday. Seagate Technology has a 52 week low of $30.60 and a 52 week high of $62.70. The company has a quick ratio of 1.39, a current ratio of 1.72 and a debt-to-equity ratio of 3.17. The company has a market capitalization of $15.98 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.67 and a beta of 1.69.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, May 1st. The data storage provider reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.10. Seagate Technology had a net margin of 7.76% and a return on equity of 105.43%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. research analysts anticipate that Seagate Technology will post 5.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Wednesday, June 20th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Tuesday, June 19th. Seagate Technology’s dividend payout ratio is 61.17%.
In other news, Director Jay L. Geldmacher sold 4,475 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $52.70, for a total transaction of $235,832.50. Following the completion of the sale, the director now owns 4,240 shares of the company’s stock, valued at $223,448. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David H. Morton, Jr. sold 35,142 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $55.00, for a total transaction of $1,932,810.00. Following the sale, the chief financial officer now directly owns 8,540 shares of the company’s stock, valued at approximately $469,700. The disclosure for this sale can be found here. Insiders have sold 61,108 shares of company stock valued at $3,363,646 in the last three months. 0.87% of the stock is owned by insiders.
Several brokerages recently weighed in on STX. Zacks Investment Research lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Vetr lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $56.12 price objective on the stock. in a report on Wednesday, February 14th. Maxim Group restated a “hold” rating and issued a $44.00 price objective (up from $43.00) on shares of Seagate Technology in a report on Tuesday, January 9th. BTIG Research increased their price objective on shares of Seagate Technology to $63.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $49.00 price objective on shares of Seagate Technology in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $53.57.
About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.