Yorktown Management & Research Co Inc cut its position in shares of Seagate Technology PLC (NASDAQ:STX) by 61.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,000 shares of the data storage provider’s stock after selling 80,000 shares during the quarter. Yorktown Management & Research Co Inc’s holdings in Seagate Technology were worth $2,368,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of STX. Raymond James Financial Services Advisors Inc. grew its stake in Seagate Technology by 1.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 78,944 shares of the data storage provider’s stock valued at $4,458,000 after purchasing an additional 1,072 shares in the last quarter. Acadian Asset Management LLC grew its stake in Seagate Technology by 25.5% in the second quarter. Acadian Asset Management LLC now owns 5,344 shares of the data storage provider’s stock valued at $302,000 after purchasing an additional 1,087 shares in the last quarter. Norinchukin Bank The grew its stake in Seagate Technology by 3.2% in the third quarter. Norinchukin Bank The now owns 35,213 shares of the data storage provider’s stock valued at $1,667,000 after purchasing an additional 1,088 shares in the last quarter. State Treasurer State of Michigan grew its stake in Seagate Technology by 1.3% in the second quarter. State Treasurer State of Michigan now owns 84,940 shares of the data storage provider’s stock valued at $4,797,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Kwmg LLC grew its stake in Seagate Technology by 3.2% in the second quarter. Kwmg LLC now owns 45,618 shares of the data storage provider’s stock valued at $2,576,000 after purchasing an additional 1,403 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.
A number of research firms have weighed in on STX. Longbow Research restated a “hold” rating on shares of Seagate Technology in a research note on Monday. Maxim Group decreased their price target on Seagate Technology from $54.00 to $51.00 and set a “hold” rating for the company in a research note on Wednesday, November 7th. BidaskClub upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. Morgan Stanley decreased their price target on Seagate Technology from $73.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, November 5th. Finally, Royal Bank of Canada decreased their price target on Seagate Technology from $60.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 5th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the stock. Seagate Technology presently has an average rating of “Hold” and a consensus target price of $50.91.
Seagate Technology (NASDAQ:STX) last issued its earnings results on Friday, November 2nd. The data storage provider reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.15. Seagate Technology had a return on equity of 123.05% and a net margin of 12.57%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, research analysts expect that Seagate Technology PLC will post 5.33 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 19th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 18th. This represents a $2.52 annualized dividend and a yield of 5.89%. Seagate Technology’s payout ratio is currently 45.74%.
In related news, 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 transaction of $1,939,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Holdings L.P. Valueact purchased 23,200 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were purchased at an average cost of $52.95 per share, with a total value of $1,228,440.00. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.
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Seagate Technology 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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