Seagate Technology PLC (STX) Position Lessened by State of Tennessee Treasury Department
State of Tennessee Treasury Department reduced its position in shares of Seagate Technology PLC (NASDAQ:STX) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,315 shares of the data storage provider’s stock after selling 2,917 shares during the period. State of Tennessee Treasury Department’s holdings in Seagate Technology PLC were worth $2,598,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WFG Advisors LP boosted its holdings in Seagate Technology PLC by 16,536.4% in 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 in the 2nd quarter valued at $150,000. First Quadrant L P CA bought a new stake in Seagate Technology PLC in the 2nd quarter valued at $153,000. SpiderRock Advisors LLC boosted its holdings in Seagate Technology PLC by 2,419.5% in 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 in the 1st quarter valued at $215,000. 90.30% of the stock is owned by institutional investors and hedge funds.
Seagate Technology PLC (STX) opened at $39.42 on Friday. The stock has a market cap of $11,404.95, a PE ratio of 9.64, a PEG ratio of 0.52 and a beta of 1.68. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. Seagate Technology PLC has a one year low of $30.60 and a one year high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology PLC had a net margin of 7.41% and a return on equity of 84.50%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. sell-side analysts expect that Seagate Technology PLC will post 3.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend is Tuesday, December 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 95.09%.
STX has been the subject of a number of research reports. Summit Redstone reissued a “sell” rating on shares of Seagate Technology PLC in a report on Saturday, July 22nd. Loop Capital initiated coverage on shares of Seagate Technology PLC in a report on Monday, July 24th. They issued a “buy” rating and a $50.00 price target for the company. Zacks Investment Research raised shares of Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Benchmark Co. downgraded shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Mizuho reduced their price target on shares of Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, July 25th. Four equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $41.39.
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In related news, Director Dambisa F. Moyo sold 8,715 shares of Seagate Technology PLC stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $39.01, for a total transaction of $339,972.15. Following the transaction, the director now owns 3,316 shares of the company’s stock, valued at approximately $129,357.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philip G. Brace sold 5,403 shares of Seagate Technology PLC stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $36.79, for a total transaction of $198,776.37. Following the transaction, the insider now directly owns 33,069 shares in the company, valued at approximately $1,216,608.51. The disclosure for this sale can be found here. Insiders sold a total of 24,527 shares of company stock worth $856,859 in the last ninety days. Insiders own 0.87% of the company’s stock.
About Seagate Technology PLC
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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