BB&T Securities LLC decreased its position in shares of Seagate Technology PLC (NASDAQ:STX) by 9.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 69,947 shares of the data storage provider’s stock after selling 7,062 shares during the quarter. BB&T Securities LLC’s holdings in Seagate Technology were worth $2,699,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Kepos Capital LP bought a new stake in Seagate Technology during the 3rd quarter valued at $3,872,000. Empowered Funds LLC acquired a new stake in Seagate Technology during the third quarter worth approximately $4,386,000. Victory Capital Management Inc. increased its stake in Seagate Technology by 49.2% during the 3rd quarter. Victory Capital Management Inc. now owns 171,623 shares of the data storage provider’s stock worth $8,126,000 after buying an additional 56,597 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of Seagate Technology by 1,516.8% in the 3rd quarter. Dupont Capital Management Corp now owns 68,166 shares of the data storage provider’s stock valued at $3,228,000 after buying an additional 63,950 shares during the period. Finally, Jefferies Group LLC bought a new stake in shares of Seagate Technology during the 3rd quarter worth about $2,743,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Holdings L.P. Valueact bought 365,671 shares of the business’s stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average cost of $41.84 per share, with a total value of $15,299,674.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Valueact Capital Master Fund, acquired 371,086 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The shares were acquired at an average cost of $41.84 per share, for a total transaction of $15,526,238.24. The disclosure for this purchase can be found here. Insiders have acquired 5,219,295 shares of company stock worth $229,489,191 over the last ninety days. Insiders own 1.00% of the company’s stock.
Shares of Seagate Technology stock opened at $45.74 on Thursday. Seagate Technology PLC has a fifty-two week low of $35.38 and a fifty-two week high of $62.70. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 2.24. The company has a market capitalization of $12.90 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 0.78 and a beta of 1.61.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, February 4th. The data storage provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. The firm 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%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 EPS. Equities research analysts predict that Seagate Technology PLC will post 4.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend is Tuesday, March 19th. Seagate Technology’s dividend payout ratio is currently 45.74%.
STX has been the topic of a number of analyst reports. Craig Hallum cut their price target on shares of Seagate Technology from $57.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 5th. BidaskClub lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, December 18th. Mizuho reiterated a “hold” rating and set a $48.00 price objective on shares of Seagate Technology in a research report on Monday, November 5th. Summit Insights raised Seagate Technology from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Longbow Research reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Monday, November 12th. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.01.
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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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