Seagate Technology PLC (STX) Shares Bought by WEALTHFRONT Corp
WEALTHFRONT Corp boosted its holdings in Seagate Technology PLC (NASDAQ:STX) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,128 shares of the data storage provider’s stock after purchasing an additional 2,429 shares during the quarter. WEALTHFRONT Corp’s holdings in Seagate Technology were worth $1,285,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. ValueAct Holdings L.P. increased its holdings in Seagate Technology by 4.4% in the second quarter. ValueAct Holdings L.P. now owns 22,404,700 shares of the data storage provider’s stock worth $1,265,194,000 after purchasing an additional 946,100 shares in the last quarter. Old Port Advisors bought a new stake in Seagate Technology in the second quarter worth approximately $1,861,000. Chicago Equity Partners LLC bought a new stake in Seagate Technology in the second quarter worth approximately $1,965,000. Standard Life Aberdeen plc increased its holdings in Seagate Technology by 8.4% in the second quarter. Standard Life Aberdeen plc now owns 208,273 shares of the data storage provider’s stock worth $11,761,000 after purchasing an additional 16,137 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Seagate Technology in the third quarter worth approximately $4,386,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
STX has been the subject of several recent research reports. BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, August 24th. Zacks Investment Research downgraded Seagate Technology from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Goldman Sachs Group downgraded Seagate Technology from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $50.00 to $44.00 in a report on Thursday, August 9th. Evercore ISI downgraded Seagate Technology from an “in-line” rating to an “underperform” rating and decreased their price objective for the company from $55.00 to $45.00 in a report on Tuesday, September 4th. Finally, ValuEngine downgraded Seagate Technology from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the stock. Seagate Technology currently has an average rating of “Hold” and a consensus target price of $50.91.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Friday, November 2nd. The data storage provider reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.15. Seagate Technology had a return on equity of 123.05% and a net margin of 12.57%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts anticipate that Seagate Technology PLC will post 5.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 19th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, December 18th. This represents a $2.52 annualized dividend and a yield of 6.09%. Seagate Technology’s dividend payout ratio is currently 45.74%.
In other news, Director Holdings L.P. Valueact purchased 5,415 shares of the company’s stock in a transaction dated Friday, November 23rd. The shares were purchased at an average price of $41.99 per share, with a total value of $227,375.85. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Valueact Capital Master Fund, purchased 371,086 shares of the company’s stock in a transaction dated Friday, November 23rd. The shares were purchased 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. In the last three months, insiders acquired 990,426 shares of company stock worth $41,467,928. Insiders own 1.00% of the company’s stock.
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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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