BB&T Securities LLC lessened its holdings in Seagate Technology PLC (NASDAQ:STX) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,337 shares of the data storage provider’s stock after selling 5,157 shares during the quarter. BB&T Securities LLC’s holdings in Seagate Technology were worth $3,746,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Quad Cities Investment Group LLC bought a new stake in Seagate Technology during the second quarter worth $124,000. Partners Capital Investment Group LLP bought a new stake in Seagate Technology during the second quarter worth $136,000. Lee Financial Co bought a new stake in Seagate Technology during the first quarter worth $181,000. Mariner LLC bought a new stake in Seagate Technology during the first quarter worth $204,000. Finally, Bristol Advisors LLC bought a new stake in Seagate Technology during the second quarter worth $215,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.
STX stock opened at $48.21 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.02 and a current ratio of 1.35. Seagate Technology PLC has a 52 week low of $31.70 and a 52 week high of $62.70. The stock has a market capitalization of $14.10 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 0.63 and a beta of 1.72.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, July 30th. The data storage provider reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.17. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the company posted $0.65 earnings per share. Seagate Technology’s revenue was up 17.8% compared to the same quarter last year. analysts predict that Seagate Technology PLC will post 6.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Wednesday, September 19th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 18th. This represents a $2.52 annualized dividend and a dividend yield of 5.23%. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.
In related news, EVP James J. Murphy sold 509 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $56.60, for a total value of $28,809.40. Following the transaction, the executive vice president now directly owns 37,693 shares in the company, valued at $2,133,423.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Valueact Capital Master Fund, purchased 946,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was acquired at an average price of $52.78 per share, for a total transaction of $49,929,880.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 6,207,648 shares of company stock worth $322,103,805 and sold 46,086 shares worth $2,529,660. Corporate insiders own 0.87% of the company’s stock.
Several analysts have issued reports on STX shares. Zacks Investment Research lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. ValuEngine lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. BidaskClub lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Goldman Sachs Group set a $39.00 price objective on shares of Seagate Technology and gave the company a “sell” rating in a research report on Wednesday. Finally, Evercore ISI lowered shares of Seagate Technology from an “in-line” rating to an “underperform” rating and dropped their price objective for the company from $55.00 to $45.00 in a research report on Tuesday, September 4th. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the stock. Seagate Technology currently has an average rating of “Hold” and an average target price of $53.14.
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.
Featured Article: How to Calculate Compound Annual Growth Rate (CAGR)
Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology PLC (NASDAQ:STX).
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.