Tibra Equities Europe Ltd purchased a new position in Seagate Technology PLC (NASDAQ:STX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,000 shares of the data storage provider’s stock, valued at approximately $1,936,000.
Other hedge funds have also modified their holdings of the company. Covington Capital Management purchased a new position in shares of Seagate Technology during the second quarter valued at about $26,000. Citizens Financial Group Inc RI purchased a new position in shares of Seagate Technology during the third quarter valued at about $26,000. AdvisorNet Financial Inc grew its position in shares of Seagate Technology by 1,146.7% during the third quarter. AdvisorNet Financial Inc now owns 561 shares of the data storage provider’s stock valued at $30,000 after purchasing an additional 516 shares in the last quarter. CWM LLC grew its position in shares of Seagate Technology by 61.3% during the second quarter. CWM LLC now owns 789 shares of the data storage provider’s stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in shares of Seagate Technology during the second quarter valued at about $38,000. Institutional investors and hedge funds own 85.20% of the company’s stock.
Shares of NASDAQ:STX traded up $0.50 during trading on Friday, reaching $58.62. The company’s stock had a trading volume of 115,920 shares, compared to its average volume of 2,140,703. The company has a current ratio of 1.58, a quick ratio of 1.17 and a debt-to-equity ratio of 2.34. Seagate Technology PLC has a 12 month low of $35.38 and a 12 month high of $58.74. The firm’s 50 day simple moving average is $54.82 and its two-hundred day simple moving average is $49.03. The stock has a market capitalization of $15.15 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 10.06 and a beta of 1.63.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Friday, November 1st. The data storage provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.03. Seagate Technology had a net margin of 17.66% and a return on equity of 61.26%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the firm earned $1.70 EPS. The firm’s revenue for the quarter was down 13.8% compared to the same quarter last year. Research analysts anticipate that Seagate Technology PLC will post 4.84 EPS for the current fiscal year.
A number of brokerages have recently weighed in on STX. Barclays restated a “sell” rating and set a $42.00 price objective on shares of Seagate Technology in a research report on Sunday, November 3rd. Susquehanna Bancshares cut their price objective on Seagate Technology from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Monday, September 23rd. Peel Hunt restated a “buy” rating on shares of Seagate Technology in a research report on Tuesday, October 22nd. UBS Group raised their price objective on Seagate Technology from $38.00 to $41.00 and gave the company a “sell” rating in a research report on Monday. Finally, Morgan Stanley set a $61.00 price objective on Seagate Technology and gave the company a “buy” rating in a research report on Monday. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Seagate Technology presently has a consensus rating of “Hold” and a consensus price target of $49.10.
In other Seagate Technology news, EVP Jeffrey D. Nygaard sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $55.00, for a total value of $110,000.00. Following the completion of the sale, the executive vice president now owns 25,985 shares of the company’s stock, valued at $1,429,175. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen J. Luczo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $47.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now directly owns 14,221 shares of the company’s stock, valued at approximately $668,387. The disclosure for this sale can be found here. In the last three months, insiders sold 443,969 shares of company stock valued at $25,101,220. 1.12% of the stock is owned by insiders.
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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