Holdings L.P. Valueact Purchases 5,415 Shares of Seagate Technology PLC (STX) Stock

Seagate Technology PLC (NASDAQ:STX) Director Holdings L.P. Valueact purchased 5,415 shares of the stock in a transaction on Friday, November 23rd. The stock was acquired at an average cost of $41.99 per share, for a total transaction of $227,375.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Holdings L.P. Valueact also recently made the following trade(s):

  • On Tuesday, November 20th, Holdings L.P. Valueact purchased 365,671 shares of Seagate Technology stock. The stock was acquired at an average cost of $41.84 per share, for a total transaction of $15,299,674.64.

STX stock opened at $42.95 on Friday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.42. Seagate Technology PLC has a 52-week low of $36.69 and a 52-week high of $62.70. The stock has a market cap of $12.18 billion, a PE ratio of 7.79, a PEG ratio of 0.64 and a beta of 1.71.

Seagate Technology (NASDAQ:STX) last posted its 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. Seagate Technology had a net margin of 12.57% and a return on equity of 123.05%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company posted $0.96 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts forecast that Seagate Technology PLC will post 5.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 19th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Tuesday, December 18th. Seagate Technology’s payout ratio is currently 45.74%.

Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in shares of Seagate Technology by 21.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 10,918 shares of the data storage provider’s stock worth $617,000 after purchasing an additional 1,944 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Seagate Technology by 25.5% during the 2nd quarter. Acadian Asset Management LLC now owns 5,344 shares of the data storage provider’s stock worth $302,000 after purchasing an additional 1,087 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Seagate Technology by 46.6% during the 2nd quarter. Alps Advisors Inc. now owns 1,183,377 shares of the data storage provider’s stock worth $49,512,000 after purchasing an additional 376,362 shares during the last quarter. ARP Americas LP raised its position in shares of Seagate Technology by 368.3% during the 2nd quarter. ARP Americas LP now owns 54,041 shares of the data storage provider’s stock worth $3,052,000 after purchasing an additional 42,500 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of Seagate Technology during the 2nd quarter worth about $398,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

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

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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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