Seagate Technology PLC (STX) Shares Sold by IFG Advisory LLC

IFG Advisory LLC lowered its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 8.0% in the first quarter, HoldingsChannel.com reports. The firm owned 6,652 shares of the data storage provider’s stock after selling 577 shares during the period. IFG Advisory LLC’s holdings in Seagate Technology were worth $318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the stock. Freestone Capital Holdings LLC boosted its holdings in shares of Seagate Technology by 7.4% during the first quarter. Freestone Capital Holdings LLC now owns 74,264 shares of the data storage provider’s stock worth $3,557,000 after acquiring an additional 5,106 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Seagate Technology by 14.8% in the first quarter. Penserra Capital Management LLC now owns 3,102 shares of the data storage provider’s stock valued at $148,000 after buying an additional 400 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Seagate Technology by 146.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 137,774 shares of the data storage provider’s stock valued at $6,598,000 after buying an additional 81,807 shares during the period. Kendall Capital Management boosted its stake in shares of Seagate Technology by 17.1% in the first quarter. Kendall Capital Management now owns 6,975 shares of the data storage provider’s stock valued at $334,000 after buying an additional 1,020 shares during the period. Finally, BP PLC bought a new stake in shares of Seagate Technology in the first quarter valued at approximately $1,485,000. Institutional investors and hedge funds own 88.62% of the company’s stock.

Several equities research analysts recently issued reports on the company. Argus upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Friday, May 3rd. ValuEngine upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Craig Hallum upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Wednesday, May 1st. Benchmark upgraded 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. Finally, BidaskClub cut Seagate Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.75.

Shares of STX opened at $43.19 on Friday. Seagate Technology PLC has a one year low of $35.38 and a one year high of $59.93. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 7.97 and a beta of 1.63. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.62 and a quick ratio of 1.16.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 30th. The data storage provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. Seagate Technology had a net margin of 13.73% and a return on equity of 90.33%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The company’s revenue was down 17.5% on a year-over-year basis. On average, sell-side analysts anticipate that Seagate Technology PLC will post 4.78 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 19th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $2.52 annualized dividend and a yield of 5.83%. Seagate Technology’s dividend payout ratio is currently 45.74%.

In other Seagate Technology news, Director Stephen J. Luczo sold 99,999 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

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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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