Seagate Technology PLC (STX) Holdings Cut by Twin Capital Management Inc.
Twin Capital Management Inc. lowered its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 67.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,260 shares of the data storage provider’s stock after selling 42,380 shares during the period. Twin Capital Management Inc.’s holdings in Seagate Technology were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. WFG Advisors LP lifted its holdings in shares of Seagate Technology 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 in the last quarter. Pacer Advisors Inc. bought a new position in shares of Seagate Technology during the 2nd quarter valued at about $150,000. SpiderRock Advisors LLC lifted its holdings in shares of Seagate Technology 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 in the last quarter. Putnam FL Investment Management Co. bought a new position in shares of Seagate Technology during the 3rd quarter valued at about $215,000. Finally, Bourgeon Capital Management LLC bought a new position in shares of Seagate Technology during the 3rd quarter valued at about $249,000. Hedge funds and other institutional investors own 91.74% of the company’s stock.
Several equities analysts have recently weighed in on the company. ValuEngine upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded Seagate Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Vetr cut Seagate Technology from a “buy” rating to a “hold” rating and set a $41.79 price objective on the stock. in a report on Thursday, November 23rd. FBN Securities reiterated a “sector perform” rating and set a $40.00 price objective (up previously from $32.00) on shares of Seagate Technology in a report on Monday, October 23rd. Finally, Citigroup lifted their price objective on Seagate Technology from $34.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.41.
Shares of Seagate Technology PLC (NASDAQ STX) opened at $39.11 on Friday. Seagate Technology PLC has a 1 year low of $30.60 and a 1 year high of $50.96. The stock has a market capitalization of $11,156.13, a P/E ratio of 9.43, a P/E/G ratio of 0.51 and a beta of 1.67. 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 (NASDAQ:STX) last announced its earnings results 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. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. Seagate Technology’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. equities analysts expect that Seagate Technology PLC will post 3.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is 95.09%.
Seagate Technology 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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