First National Trust Co. Has $641,000 Stake in Seagate Technology PLC (STX)
First National Trust Co. reduced its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 17.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,328 shares of the data storage provider’s stock after selling 4,038 shares during the period. First National Trust Co.’s holdings in Seagate Technology PLC were worth $641,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. WFG Advisors LP raised its stake in Seagate Technology PLC by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after purchasing an additional 3,638 shares during the period. Pacer Advisors Inc. bought a new stake in Seagate Technology PLC during the 2nd quarter valued at approximately $150,000. First Quadrant L P CA bought a new stake in Seagate Technology PLC during the 2nd quarter valued at approximately $153,000. SpiderRock Advisors LLC raised its stake in Seagate Technology PLC by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after purchasing an additional 5,347 shares during the period. Finally, Amalgamated Bank bought a new stake in Seagate Technology PLC during the 1st quarter valued at approximately $215,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on STX. BMO Capital Markets reissued a “market perform” rating and set a $35.00 target price (down previously from $42.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Craig Hallum downgraded Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Citigroup Inc. lifted their target price on Seagate Technology PLC from $34.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 24th. Cowen and Company decreased their target price on Seagate Technology PLC from $45.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 26th. Finally, Mizuho lifted their target price on Seagate Technology PLC from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Seagate Technology PLC currently has a consensus rating of “Hold” and an average price target of $41.29.
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Seagate Technology PLC (NASDAQ STX) traded down $0.33 on Tuesday, reaching $37.66. The company had a trading volume of 2,305,600 shares, compared to its average volume of 5,228,802. Seagate Technology PLC has a one year low of $30.60 and a one year high of $50.96. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. The stock has a market cap of $10,900.00, a PE ratio of 9.29, a P/E/G ratio of 0.50 and a beta of 1.68.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the business earned $0.99 EPS. Seagate Technology PLC’s revenue was down 5.9% compared to the same quarter last year. sell-side analysts anticipate that Seagate Technology PLC will post 3.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date of this dividend is Tuesday, December 19th. Seagate Technology PLC’s payout ratio is currently 95.45%.
In other news, insider Jeffrey D. Nygaard bought 5,000 shares of the stock in a transaction on Friday, October 27th. The stock was acquired at an average cost of $37.38 per share, for a total transaction of $186,900.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Philip G. Brace sold 5,403 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.79, for a total value of $198,776.37. Following the completion of the sale, the insider now owns 33,069 shares of the company’s stock, valued at $1,216,608.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,527 shares of company stock valued at $856,859. 0.87% of the stock is owned by company insiders.
Seagate Technology PLC 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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