GWM Advisors LLC raised its stake in Seagate Technology PLC (NASDAQ:STX) by 8.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 40,308 shares of the data storage provider’s stock after purchasing an additional 3,286 shares during the quarter. GWM Advisors LLC’s holdings in Seagate Technology were worth $1,951,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC raised its stake in Seagate Technology by 2.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,550 shares of the data storage provider’s stock valued at $368,000 after buying an additional 203 shares in the last quarter. Bell Bank raised its stake in Seagate Technology by 0.4% in the first quarter. Bell Bank now owns 55,355 shares of the data storage provider’s stock valued at $2,701,000 after buying an additional 223 shares in the last quarter. Icon Wealth Partners LLC grew its holdings in shares of Seagate Technology by 3.4% during the first quarter. Icon Wealth Partners LLC now owns 7,410 shares of the data storage provider’s stock worth $362,000 after purchasing an additional 243 shares during the last quarter. Liberty Wealth Management LLC grew its holdings in shares of Seagate Technology by 64.3% during the first quarter. Liberty Wealth Management LLC now owns 705 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 276 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Seagate Technology by 24.7% during the second quarter. CWM LLC now owns 1,491 shares of the data storage provider’s stock worth $72,000 after purchasing an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 83.55% of the company’s stock.
In other Seagate Technology news, Director Stephen J. Luczo sold 7,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $51.74, for a total value of $362,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ban Seng Teh sold 498 shares of Seagate Technology stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $52.80, for a total transaction of $26,294.40. Following the completion of the sale, the senior vice president now directly owns 11,197 shares of the company’s stock, valued at $591,201.60. The disclosure for this sale can be found here. Insiders have sold a total of 20,493 shares of company stock valued at $1,059,254 over the last 90 days. Insiders own 1.12% of the company’s stock.
STX has been the topic of several research reports. Craig Hallum raised Seagate Technology from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Thursday, April 23rd. Royal Bank of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Seagate Technology in a report on Thursday. Benchmark lowered Seagate Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research lowered Seagate Technology from a “hold” rating to a “sell” rating and set a $53.00 price objective on the stock. in a report on Friday, July 24th. Finally, Bank of America lowered their price target on Seagate Technology from $45.00 to $43.00 and set an “underperform” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $53.00.
Shares of Seagate Technology stock opened at $45.22 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.51 and a quick ratio of 1.08. Seagate Technology PLC has a 1 year low of $39.02 and a 1 year high of $64.17. The company has a market capitalization of $11.39 billion, a P/E ratio of 9.51, a P/E/G ratio of 6.91 and a beta of 1.03. The business has a 50 day moving average price of $48.53 and a 200 day moving average price of $50.95.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.20. Seagate Technology had a return on equity of 68.62% and a net margin of 9.55%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the firm posted $0.86 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts expect that Seagate Technology PLC will post 5.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 23rd will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, September 22nd. This represents a $2.60 annualized dividend and a dividend yield of 5.75%. Seagate Technology’s dividend payout ratio is currently 56.89%.
Seagate Technology Company 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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