Rhumbline Advisers Has $9.39 Million Position in Seagate Technology PLC (STX)
Rhumbline Advisers lessened its holdings in Seagate Technology PLC (NASDAQ:STX) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 283,071 shares of the data storage provider’s stock after selling 3,274 shares during the period. Rhumbline Advisers owned 0.10% of Seagate Technology worth $9,389,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Advisor Group Inc. lifted its position in Seagate Technology by 9.1% during the 3rd quarter. Advisor Group Inc. now owns 37,414 shares of the data storage provider’s stock worth $1,241,000 after acquiring an additional 3,124 shares during the last quarter. Todd Asset Management LLC lifted its position in Seagate Technology by 544.7% during the 3rd quarter. Todd Asset Management LLC now owns 380,363 shares of the data storage provider’s stock worth $12,617,000 after acquiring an additional 321,363 shares during the last quarter. Toronto Dominion Bank lifted its position in Seagate Technology by 8.9% during the 3rd quarter. Toronto Dominion Bank now owns 109,567 shares of the data storage provider’s stock worth $3,634,000 after acquiring an additional 8,977 shares during the last quarter. Sei Investments Co. lifted its position in Seagate Technology by 19.4% during the 3rd quarter. Sei Investments Co. now owns 114,184 shares of the data storage provider’s stock worth $3,788,000 after acquiring an additional 18,566 shares during the last quarter. Finally, Symons Capital Management Inc. acquired a new position in Seagate Technology during the 3rd quarter worth $8,785,000. 90.10% of the stock is owned by institutional investors and hedge funds.
In related news, insider Jeffrey D. Nygaard bought 5,000 shares of Seagate Technology stock in a transaction dated Friday, October 27th. The shares were bought at an average cost of $37.38 per share, for a total transaction of $186,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David H. Morton, Jr. sold 7,909 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $316,360.00. Following the transaction, the chief financial officer now owns 25,561 shares in the company, valued at $1,022,440. The disclosure for this sale can be found here. Insiders have sold 29,892 shares of company stock worth $1,071,459 over the last ninety days. Insiders own 0.87% of the company’s stock.
STX has been the subject of a number of research analyst reports. Mizuho reissued a “hold” rating and set a $36.00 target price on shares of Seagate Technology in a research report on Monday, October 9th. FBN Securities lowered shares of Seagate Technology from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $40.00 to $32.00 in a research report on Monday, September 11th. Royal Bank Of Canada reissued a “hold” rating and set a $35.00 target price on shares of Seagate Technology in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, October 26th. Finally, BidaskClub upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.41.
Shares of Seagate Technology PLC (NASDAQ STX) opened at $40.29 on Monday. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The firm has a market cap of $11,656.66, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.53 and a beta of 1.68. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.10. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. sell-side analysts predict that Seagate Technology PLC will post 3.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.52 annualized dividend and a yield of 6.25%. Seagate Technology’s dividend payout ratio is 95.09%.
About Seagate Technology
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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