Gilman Hill Asset Management LLC Reduces Stock Position in Seagate Technology PLC (NASDAQ:STX)

Gilman Hill Asset Management LLC lessened its position in Seagate Technology PLC (NASDAQ:STX) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,020 shares of the data storage provider’s stock after selling 2,976 shares during the period. Seagate Technology makes up 2.2% of Gilman Hill Asset Management LLC’s holdings, making the stock its 6th largest position. Gilman Hill Asset Management LLC’s holdings in Seagate Technology were worth $6,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. raised its stake in shares of Seagate Technology by 5.2% in the 2nd quarter. Invesco Ltd. now owns 2,036,970 shares of the data storage provider’s stock worth $95,982,000 after buying an additional 101,002 shares in the last quarter. CWM Advisors LLC raised its position in shares of Seagate Technology by 11.2% during the second quarter. CWM Advisors LLC now owns 17,123 shares of the data storage provider’s stock worth $807,000 after purchasing an additional 1,729 shares during the period. Buckingham Asset Management LLC raised its position in shares of Seagate Technology by 80.4% during the second quarter. Buckingham Asset Management LLC now owns 10,316 shares of the data storage provider’s stock worth $486,000 after purchasing an additional 4,598 shares during the period. Glen Harbor Capital Management LLC raised its position in shares of Seagate Technology by 20.8% during the second quarter. Glen Harbor Capital Management LLC now owns 13,156 shares of the data storage provider’s stock worth $620,000 after purchasing an additional 2,266 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of Seagate Technology by 13.5% during the second quarter. Advisory Services Network LLC now owns 16,021 shares of the data storage provider’s stock worth $755,000 after purchasing an additional 1,903 shares during the period. 85.29% of the stock is currently owned by institutional investors.

Shares of STX stock opened at $54.98 on Friday. Seagate Technology PLC has a 1-year low of $35.38 and a 1-year high of $57.20. The company has a current ratio of 1.95, a quick ratio of 1.52 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 9.81 and a beta of 1.64. The stock’s fifty day simple moving average is $53.43 and its 200-day simple moving average is $48.28.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Friday, August 2nd. The data storage provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Seagate Technology had a return on equity of 72.07% and a net margin of 19.36%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. Seagate Technology’s revenue for the quarter was down 16.4% compared to the same quarter last year. On average, sell-side analysts predict that Seagate Technology PLC will post 4.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.58%. Seagate Technology’s dividend payout ratio is 52.28%.

In other Seagate Technology news, CEO William D. Mosley sold 90,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $54.31, for a total value of $4,887,900.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen J. Luczo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $47.37, for a total value of $236,850.00. Following the completion of the transaction, the director now owns 14,221 shares in the company, valued at approximately $673,648.77. The disclosure for this sale can be found here. Insiders have sold 134,000 shares of company stock worth $7,145,110 in the last quarter. 1.12% of the stock is currently owned by corporate insiders.

STX has been the topic of a number of recent analyst reports. KeyCorp set a $58.00 target price on Seagate Technology and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Susquehanna Bancshares cut their target price on Seagate Technology from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Monday, September 23rd. Mizuho boosted their target price on Seagate Technology from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Co boosted their target price on Seagate Technology from $45.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, September 13th. Finally, Craig Hallum lowered Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 target price on the stock. in a research report on Friday, September 20th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Seagate Technology has an average rating of “Hold” and a consensus target price of $48.10.

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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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