SRS Capital Advisors Inc. Purchases Shares of 3,134 Seagate Technology PLC (STX)

SRS Capital Advisors Inc. purchased a new stake in Seagate Technology PLC (NASDAQ:STX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,134 shares of the data storage provider’s stock, valued at approximately $148,000.

Several other hedge funds also recently modified their holdings of STX. WESPAC Advisors SoCal LLC bought a new stake in shares of Seagate Technology in the third quarter valued at approximately $108,000. Quad Cities Investment Group LLC bought a new stake in shares of Seagate Technology in the second quarter valued at approximately $124,000. Partners Capital Investment Group LLP bought a new stake in shares of Seagate Technology in the second quarter valued at approximately $136,000. First Hawaiian Bank acquired a new position in Seagate Technology during the third quarter valued at approximately $139,000. Finally, Qube Research & Technologies Ltd acquired a new position in Seagate Technology during the second quarter valued at approximately $146,000. Institutional investors and hedge funds own 83.57% of the company’s stock.

Several research analysts have commented on STX shares. BidaskClub downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 5th. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Tuesday, July 31st. Loop Capital lowered their price objective on shares of Seagate Technology to $60.00 and set a “buy” rating for the company in a research report on Monday, October 29th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $62.00 price objective on shares of Seagate Technology in a research report on Monday, July 30th. Finally, Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Tuesday, July 31st. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the company. Seagate Technology presently has an average rating of “Hold” and an average target price of $50.91.

In related news, insider Stephen J. Luczo sold 35,000 shares of the stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Valueact Capital Master Fund, acquired 2,090,783 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was bought at an average price of $50.94 per share, with a total value of $106,504,486.02. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 4,055,357 shares of company stock valued at $209,385,069 and sold 46,086 shares valued at $2,529,660. Corporate insiders own 1.00% of the company’s stock.

Shares of NASDAQ:STX opened at $43.03 on Friday. The firm has a market cap of $13.11 billion, a PE ratio of 7.81, a P/E/G ratio of 0.69 and a beta of 1.71. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.42 and a quick ratio of 1.07. Seagate Technology PLC has a 52-week low of $36.69 and a 52-week high of $62.70.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Friday, November 2nd. The data storage provider reported $1.70 earnings per share (EPS) for the quarter, topping the 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 net margin of 12.57% and a return on equity of 123.05%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. On average, sell-side analysts anticipate that Seagate Technology PLC will post 5.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 19th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 18th. This represents a $2.52 annualized dividend and a dividend yield of 5.86%. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.

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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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