Seagate Technology PLC (STX) Stake Lowered by Dupont Capital Management Corp

Dupont Capital Management Corp trimmed its position in shares of Seagate Technology PLC (NASDAQ:STX) by 83.9% in the 1st quarter, Holdings Channel reports. The fund owned 2,717 shares of the data storage provider’s stock after selling 14,200 shares during the quarter. Dupont Capital Management Corp’s holdings in Seagate Technology were worth $130,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of STX. Waratah Capital Advisors Ltd. bought a new position in Seagate Technology in the fourth quarter worth about $60,000. Essex Savings Bank bought a new position in Seagate Technology in the fourth quarter worth about $70,000. Financial Gravity Companies Inc. bought a new position in Seagate Technology in the fourth quarter worth about $75,000. Certified Advisory Corp raised its stake in Seagate Technology by 17.5% in the fourth quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock worth $78,000 after buying an additional 302 shares in the last quarter. Finally, Proffitt & Goodson Inc. bought a new position in Seagate Technology in the first quarter worth about $90,000. 92.01% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Stephen J. Luczo sold 99,999 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $49.33, for a total transaction of $4,932,950.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Luczo sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $46.09, for a total transaction of $2,304,500.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Shares of STX opened at $45.59 on Thursday. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 7.61 and a beta of 1.63. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.16 and a current ratio of 1.62. Seagate Technology PLC has a fifty-two week low of $35.38 and a fifty-two week high of $60.01.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 30th. The data storage provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.12. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Seagate Technology had a net margin of 13.73% and a return on equity of 90.33%. The business’s revenue was down 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, equities analysts predict that Seagate Technology PLC will post 4.78 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 19th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend is Tuesday, June 18th. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.

STX has been the subject of a number of research reports. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Wednesday, May 1st. ValuEngine downgraded shares of Seagate Technology from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 17th. BidaskClub raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Craig Hallum decreased their price target on shares of Seagate Technology from $47.00 to $41.00 and set a “hold” rating for the company in a research note on Tuesday, February 5th. Finally, BMO Capital Markets decreased their price target on shares of Seagate Technology to $41.00 and set a “market perform” rating for the company in a research note on Tuesday, February 5th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $46.75.

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Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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