Robeco Institutional Asset Management B.V. Purchases 229,843 Shares of Seagate Technology PLC (STX)
Robeco Institutional Asset Management B.V. grew its position in shares of Seagate Technology PLC (NASDAQ:STX) by 19.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,393,443 shares of the data storage provider’s stock after purchasing an additional 229,843 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Seagate Technology were worth $66,152,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new stake in shares of Seagate Technology during the third quarter valued at about $2,434,000. Reliance Trust Co. of Delaware boosted its stake in shares of Seagate Technology by 5.0% during the third quarter. Reliance Trust Co. of Delaware now owns 35,878 shares of the data storage provider’s stock valued at $1,699,000 after purchasing an additional 1,704 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Seagate Technology by 196.3% during the third quarter. Greenleaf Trust now owns 11,359 shares of the data storage provider’s stock valued at $538,000 after purchasing an additional 7,526 shares in the last quarter. GWM Advisors LLC boosted its stake in shares of Seagate Technology by 89.5% during the third quarter. GWM Advisors LLC now owns 11,920 shares of the data storage provider’s stock valued at $564,000 after purchasing an additional 5,630 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Seagate Technology during the third quarter valued at about $7,607,000. 83.57% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on STX shares. Zacks Investment Research lowered Seagate Technology from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. BidaskClub lowered Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. UBS Group lowered Seagate Technology to a “neutral” rating in a research note on Tuesday, October 23rd. Goldman Sachs Group set a $39.00 price target on Seagate Technology and gave the company a “sell” rating in a research note on Wednesday, September 12th. Finally, Morgan Stanley cut their price target on Seagate Technology from $73.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, November 5th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $50.91.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Friday, November 2nd. The data storage provider reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.15. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.95 billion. Seagate Technology had a return on equity of 123.05% and a net margin of 12.57%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. On average, research analysts anticipate that Seagate Technology PLC will post 5.33 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 19th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, December 18th. This represents a $2.52 dividend on an annualized basis and a yield of 5.86%. Seagate Technology’s payout ratio is currently 45.74%.
In other Seagate Technology news, insider Valueact Capital Master Fund, bought 931,882 shares of the stock in a transaction on Thursday, August 16th. The stock was acquired at an average cost of $52.82 per share, for a total transaction of $49,222,007.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen J. Luczo sold 35,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $55.40, for a total value of $1,939,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,455,082 shares of company stock valued at $76,840,447 and sold 46,086 shares valued at $2,529,660. Insiders own 1.00% of the company’s stock.
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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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