Chartwell Investment Partners LLC purchased a new stake in Seagate Technology PLC (NASDAQ:STX) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 47,095 shares of the data storage provider’s stock, valued at approximately $1,970,000.
Other institutional investors also recently modified their holdings of the company. Assetmark Inc. lifted its stake in Seagate Technology by 43.5% in the 3rd 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 in the last quarter. Jaffetilchin Investment Partners LLC purchased a new position in Seagate Technology in the 4th quarter worth approximately $346,000. Iat Reinsurance Co. LTD. purchased a new position in Seagate Technology in the 3rd quarter worth approximately $12,455,000. Bristol Advisors LLC purchased a new position in Seagate Technology in the 4th quarter worth approximately $711,000. Finally, Korea Investment CORP lifted its stake in Seagate Technology by 9.8% in the 3rd quarter. Korea Investment CORP now owns 251,938 shares of the data storage provider’s stock worth $8,357,000 after purchasing an additional 22,400 shares in the last quarter. 89.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on STX. Guggenheim reissued a “hold” rating on shares of Seagate Technology in a research note on Monday, January 29th. Cowen set a $53.00 target price on shares of Seagate Technology and gave the stock a “hold” rating in a research note on Monday, January 29th. Mizuho reissued a “neutral” rating and issued a $53.00 target price (up from $39.00) on shares of Seagate Technology in a research note on Monday, January 29th. Loop Capital lifted their price target on shares of Seagate Technology to $65.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Maxim Group lifted their price target on shares of Seagate Technology to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $49.76.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at $52.12 on Wednesday. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $56.45. The company has a debt-to-equity ratio of 4.07, a current ratio of 1.58 and a quick ratio of 1.25. The firm has a market cap of $15,080.00, a P/E ratio of 23.80, a P/E/G ratio of 0.68 and a beta of 1.88.
Seagate Technology (NASDAQ:STX) last posted its earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. equities analysts expect that Seagate Technology PLC will post 4.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st will be issued a $0.63 dividend. The ex-dividend date is Tuesday, March 20th. This represents a $2.52 annualized dividend and a yield of 4.83%. Seagate Technology’s dividend payout ratio (DPR) is presently 115.07%.
In other Seagate Technology news, Chairman Stephen J. Luczo sold 241,738 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $54.76, for a total value of $13,237,572.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David H. Morton, Jr. sold 40,263 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $48.78, for a total transaction of $1,964,029.14. Following the completion of the transaction, the chief financial officer now owns 65,824 shares of the company’s stock, valued at approximately $3,210,894.72. The disclosure for this sale can be found here. Insiders sold a total of 774,029 shares of company stock valued at $41,280,957 in the last quarter. 0.87% of the stock is owned by insiders.
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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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