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.
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%.
TRADEMARK VIOLATION NOTICE: “SRS Capital Advisors Inc. Purchases Shares of 3,134 Seagate Technology PLC (STX)” was first published by WKRB News and is owned by of WKRB News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.wkrb13.com/2018/11/10/srs-capital-advisors-inc-purchases-shares-of-3134-seagate-technology-plc-stx.html.
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.
Recommended Story: Growth Stocks
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.