Tdam USA Inc. Has $7.19 Million Stake in Seagate Technology PLC (STX)
Tdam USA Inc. cut its stake in Seagate Technology PLC (NASDAQ:STX) by 8.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 216,778 shares of the data storage provider’s stock after selling 19,980 shares during the period. Tdam USA Inc. owned approximately 0.07% of Seagate Technology PLC worth $7,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of STX. ValueAct Holdings L.P. grew its position in shares of Seagate Technology PLC by 44.8% in the second quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after purchasing an additional 4,276,275 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Seagate Technology PLC by 7,384.8% in the second quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock valued at $104,662,000 after purchasing an additional 2,664,861 shares in the last quarter. Vanguard Group Inc. grew its position in Seagate Technology PLC by 7.4% in the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after acquiring an additional 2,292,075 shares during the period. Schroder Investment Management Group grew its position in Seagate Technology PLC by 181.1% in the second quarter. Schroder Investment Management Group now owns 1,772,547 shares of the data storage provider’s stock worth $68,970,000 after acquiring an additional 1,141,917 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Seagate Technology PLC by 39.4% in the third quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock worth $96,064,000 after acquiring an additional 817,861 shares during the period. Institutional investors and hedge funds own 90.10% of the company’s stock.
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In other news, insider Philip G. Brace sold 5,403 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.79, for a total value of $198,776.37. Following the sale, the insider now directly owns 33,069 shares in the company, valued at $1,216,608.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David H. Morton, Jr. sold 7,909 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $40.00, for a total value of $316,360.00. Following the completion of the sale, 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 24,527 shares of company stock worth $856,859 over the last 90 days. 0.87% of the stock is owned by insiders.
Several research analysts recently weighed in on the company. Vetr lowered Seagate Technology PLC from a “buy” rating to a “hold” rating and set a $41.79 price objective for the company. in a research report on Thursday. Wells Fargo & Company assumed coverage on Seagate Technology PLC in a research report on Tuesday, November 14th. They issued a “market perform” rating and a $38.00 price objective for the company. BidaskClub lowered Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research lowered Seagate Technology PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Argus reiterated a “hold” rating and issued a $40.00 price objective on shares of Seagate Technology PLC in a research report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Seagate Technology PLC currently has a consensus rating of “Hold” and a consensus price target of $41.41.
Seagate Technology PLC (STX) opened at $40.33 on Friday. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96. The company has a market capitalization of $11,668.22, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 0.53 and a beta of 1.68.
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. sell-side analysts predict that Seagate Technology PLC will post 3.99 EPS for the current fiscal year.
The company also recently declared 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. This represents a $2.52 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date is Tuesday, December 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is 95.09%.
Seagate Technology PLC 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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