Schroder Investment Management Group trimmed its position in Seagate Technology PLC (NASDAQ:STX) by 25.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,301,070 shares of the data storage provider’s stock after selling 453,670 shares during the period. Schroder Investment Management Group’s holdings in Seagate Technology were worth $54,436,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. grew its stake in Seagate Technology by 43.5% in the third quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock worth $4,835,000 after purchasing an additional 44,171 shares during the period. Jaffetilchin Investment Partners LLC purchased a new stake in Seagate Technology in the fourth quarter worth $346,000. Iat Reinsurance Co. LTD. purchased a new stake in Seagate Technology in the third quarter worth $12,455,000. Bristol Advisors LLC bought a new stake in Seagate Technology in the fourth quarter worth $711,000. Finally, SeaBridge Investment Advisors LLC bought a new stake in Seagate Technology in the third quarter worth $3,873,000. 89.39% of the stock is currently owned by institutional investors.
In other Seagate Technology news, Director Jay L. Geldmacher sold 5,365 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $40.00, for a total value of $214,600.00. Following the transaction, the director now owns 8,715 shares of the company’s stock, valued at $348,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen J. Luczo sold 341,738 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total value of $18,795,590.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 779,394 shares of company stock worth $41,495,557. Corporate insiders own 0.87% of the company’s stock.
Seagate Technology PLC (NASDAQ:STX) opened at $51.42 on Tuesday. The stock has a market capitalization of $14,645.82, a price-to-earnings ratio of 12.27, a PEG ratio of 0.68 and a beta of 1.88. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $56.45.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.86 billion. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. analysts predict that Seagate Technology PLC will post 4.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Tuesday, March 20th. Seagate Technology’s payout ratio is currently 114.55%.
Several equities research analysts have commented on the company. Vetr downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $56.12 target price on the stock. in a report on Wednesday, February 14th. BMO Capital Markets boosted their target price on Seagate Technology to $53.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. Maxim Group boosted their target price on Seagate Technology to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Robert W. Baird boosted their target price on Seagate Technology from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Finally, Mizuho boosted their target price on Seagate Technology from $39.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology has a consensus rating of “Hold” and a consensus target price of $49.76.
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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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