Zurcher Kantonalbank Zurich Cantonalbank Sells 65,147 Shares of Seagate Technology PLC (STX)
Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Seagate Technology PLC (NASDAQ:STX) by 50.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,736 shares of the data storage provider’s stock after selling 65,147 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Seagate Technology were worth $2,114,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. WFG Advisors LP boosted its position in shares of Seagate Technology by 16,536.4% in the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after acquiring an additional 3,638 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Seagate Technology in the second quarter worth approximately $150,000. SpiderRock Advisors LLC boosted its position in shares of Seagate Technology by 2,419.5% in the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after acquiring an additional 5,347 shares during the last quarter. Putnam FL Investment Management Co. acquired a new stake in shares of Seagate Technology in the third quarter worth approximately $215,000. Finally, Global X Management Co. LLC boosted its position in shares of Seagate Technology by 87.7% in the second quarter. Global X Management Co. LLC now owns 6,550 shares of the data storage provider’s stock worth $254,000 after acquiring an additional 3,060 shares during the last quarter. Institutional investors and hedge funds own 91.74% of the company’s stock.
Seagate Technology PLC (NASDAQ STX) opened at $39.11 on Friday. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. 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 company has a market cap of $11,156.13, a price-to-earnings ratio of 9.43, a PEG ratio of 0.51 and a beta of 1.67.
Seagate Technology (NASDAQ:STX) last posted its 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 had a net margin of 7.41% and a return on equity of 84.50%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. research analysts anticipate that Seagate Technology PLC will post 3.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.44%. Seagate Technology’s dividend payout ratio (DPR) is presently 95.09%.
A number of brokerages have weighed in on STX. Vetr cut shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $41.79 price target on the stock. in a research report on Thursday, November 23rd. KeyCorp reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. Guggenheim reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. BMO Capital Markets reaffirmed a “hold” rating and set a $40.00 price target on shares of Seagate Technology in a research report on Monday, October 23rd. Finally, Royal Bank Of Canada lifted their price target on shares of Seagate Technology from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 24th. Four 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 company. The company presently has a consensus rating of “Hold” and an average target price of $41.41.
In related news, insider Philip G. Brace sold 5,403 shares of Seagate Technology stock in a transaction on Monday, November 6th. The shares were sold at an average price of $36.79, for a total value of $198,776.37. Following the completion of the sale, the insider now 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 link. Also, Director Dambisa F. Moyo sold 8,715 shares of Seagate Technology stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total transaction of $339,972.15. Following the completion of the sale, the director now owns 3,316 shares of the company’s stock, valued at approximately $129,357.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,981 shares of company stock valued at $1,656,761. Insiders own 0.87% of the company’s stock.
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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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