Putnam FL Investment Management Co. Acquires Shares of 6,489 Seagate Technology PLC (STX)
Putnam FL Investment Management Co. acquired a new position in shares of Seagate Technology PLC (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,489 shares of the data storage provider’s stock, valued at approximately $215,000.
Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Seagate Technology PLC by 74.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock worth $63,947,000 after buying an additional 703,822 shares during the period. CIBC World Markets Inc. bought a new position in Seagate Technology PLC during the 2nd quarter worth $9,699,000. Aviva PLC increased its position in Seagate Technology PLC by 2.8% during the 2nd quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock worth $7,022,000 after buying an additional 4,950 shares during the period. Meridian Wealth Management LLC increased its position in Seagate Technology PLC by 7.9% during the 2nd quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock worth $321,000 after buying an additional 604 shares during the period. Finally, LMR Partners LLP increased its position in Seagate Technology PLC by 390.9% during the 2nd quarter. LMR Partners LLP now owns 24,762 shares of the data storage provider’s stock worth $959,000 after buying an additional 19,718 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.
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A number of research analysts recently commented on STX shares. Cowen and Company restated a “hold” rating and issued a $36.00 price target on shares of Seagate Technology PLC in a research report on Friday, October 13th. UBS AG restated a “sell” rating and issued a $28.00 price target (down previously from $34.00) on shares of Seagate Technology PLC in a research report on Wednesday, July 26th. Jefferies Group LLC set a $29.00 price target on Seagate Technology PLC and gave the stock a “hold” rating in a research report on Sunday, October 15th. Mizuho restated a “hold” rating and issued a $36.00 price target on shares of Seagate Technology PLC in a research report on Monday, October 9th. Finally, Barclays PLC raised their price target on Seagate Technology PLC from $29.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.39.
Shares of Seagate Technology PLC (NASDAQ STX) traded up $0.30 on Friday, hitting $39.42. The stock had a trading volume of 3,137,317 shares, compared to its average volume of 5,200,074. The company has a market capitalization of $11,320.00, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 0.50 and a beta of 1.68. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. research analysts predict that Seagate Technology PLC will post 3.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.39%. Seagate Technology PLC’s payout ratio is currently 95.45%.
In other Seagate Technology PLC news, Director Dambisa F. Moyo sold 8,715 shares of Seagate Technology PLC stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total value of $339,972.15. Following the completion of the sale, the director now directly owns 3,316 shares in the company, valued at $129,357.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey D. Nygaard bought 5,000 shares of the stock in a transaction on Friday, October 27th. The stock was acquired at an average price of $37.38 per share, with a total value of $186,900.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 24,527 shares of company stock valued at $856,859. 0.87% of the stock is currently owned by corporate insiders.
Seagate Technology PLC Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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