First Allied Advisory Services Inc. increased its holdings in Seagate Technology PLC (NASDAQ:STX) by 6.1% during the fourth quarter, HoldingsChannel reports. The firm owned 35,682 shares of the data storage provider’s stock after acquiring an additional 2,037 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Seagate Technology were worth $1,496,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new stake in Seagate Technology in the 4th quarter worth approximately $174,000. Balentine LLC increased its stake in Seagate Technology by 56.8% in the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after acquiring an additional 1,619 shares during the last quarter. Advisor Partners LLC bought a new stake in Seagate Technology in the 4th quarter worth approximately $258,000. New England Research & Management Inc. bought a new stake in Seagate Technology in the 4th quarter worth approximately $205,000. Finally, Everence Capital Management Inc. bought a new stake in Seagate Technology in the 4th quarter worth approximately $205,000. 89.39% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the company. Guggenheim reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Monday, January 29th. Cowen set a $53.00 price objective on Seagate Technology and gave the stock a “hold” rating in a research note on Monday, January 29th. Mizuho reaffirmed a “neutral” rating and issued a $53.00 price objective (up previously from $39.00) on shares of Seagate Technology in a research note on Monday, January 29th. Loop Capital lifted their price objective on Seagate Technology to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, Maxim Group lifted their price objective on Seagate Technology to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $49.76.
Seagate Technology PLC (NASDAQ STX) opened at $51.42 on Tuesday. The firm has a market capitalization of $14,645.82, a P/E 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 12-month low of $30.60 and a 12-month high of $56.45.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The company 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%. Seagate Technology’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 EPS. analysts forecast that Seagate Technology PLC will post 4.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.90%. The ex-dividend date is Tuesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is presently 114.55%.
In other Seagate Technology news, CFO David H. Morton, Jr. sold 40,263 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $48.78, for a total value of $1,964,029.14. Following the transaction, the chief financial officer now owns 65,824 shares of the company’s stock, valued at approximately $3,210,894.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Zander sold 15,089 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. Insiders sold a total of 779,394 shares of company stock worth $41,495,557 in the last ninety days. 0.87% of the stock is currently owned by corporate insiders.
Seagate Technology Company 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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