Sciencast Management LP Acquires New Holdings in Seagate Technology PLC (NASDAQ:STX)

Sciencast Management LP acquired a new stake in shares of Seagate Technology PLC (NASDAQ:STX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,360 shares of the data storage provider’s stock, valued at approximately $1,211,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Gradient Investments LLC boosted its holdings in shares of Seagate Technology by 195.5% in the fourth quarter. Gradient Investments LLC now owns 585 shares of the data storage provider’s stock valued at $35,000 after buying an additional 387 shares during the period. UNIVEST FINANCIAL Corp acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $229,000. Windward Capital Management Co. CA boosted its holdings in shares of Seagate Technology by 22.9% in the fourth quarter. Windward Capital Management Co. CA now owns 68,600 shares of the data storage provider’s stock valued at $4,082,000 after buying an additional 12,767 shares during the period. Allred Capital Management LLC acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $71,000. Finally, Tuttle Tactical Management boosted its holdings in shares of Seagate Technology by 643.6% in the fourth quarter. Tuttle Tactical Management now owns 48,632 shares of the data storage provider’s stock valued at $2,894,000 after buying an additional 42,092 shares during the period. Hedge funds and other institutional investors own 84.41% of the company’s stock.

Shares of STX stock opened at $61.53 on Friday. The company’s fifty day simple moving average is $59.35 and its 200-day simple moving average is $53.76. The company has a quick ratio of 1.17, a current ratio of 1.58 and a debt-to-equity ratio of 2.34. The firm has a market cap of $15.97 billion, a PE ratio of 12.77, a P/E/G ratio of 10.35 and a beta of 1.61. Seagate Technology PLC has a 12 month low of $37.60 and a 12 month high of $61.54.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Friday, November 1st. The data storage provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.03. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. Seagate Technology had a net margin of 17.66% and a return on equity of 61.26%. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 earnings per share. On average, equities analysts predict that Seagate Technology PLC will post 4.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Thursday, December 26th were given a dividend of $0.65 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.63. This represents a $2.60 annualized dividend and a yield of 4.23%. The ex-dividend date was Tuesday, December 24th. Seagate Technology’s dividend payout ratio is 53.94%.

In other Seagate Technology news, Director Stephen J. Luczo sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $55.60, for a total transaction of $278,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey D. Nygaard sold 2,969 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $55.90, for a total transaction of $165,967.10. Following the sale, the executive vice president now directly owns 26,954 shares in the company, valued at $1,506,728.60. The disclosure for this sale can be found here. Insiders have sold 493,533 shares of company stock worth $28,805,087 over the last ninety days. Insiders own 1.12% of the company’s stock.

Several research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Seagate Technology from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Monday, November 4th. Morgan Stanley upped their price target on shares of Seagate Technology from $61.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Susquehanna Bancshares reiterated a “sell” rating and issued a $40.00 price target on shares of Seagate Technology in a report on Monday, December 16th. ValuEngine cut shares of Seagate Technology from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, BidaskClub raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.53.

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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