Seagate Technology plc (NASDAQ:STX) Director Holdings L.P. Valueact Sells 39,559 Shares

Seagate Technology plc (NASDAQ:STX) Director Holdings L.P. Valueact sold 39,559 shares of the firm’s stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $60.35, for a total value of $2,387,385.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Wednesday, January 6th, Holdings L.P. Valueact sold 356,572 shares of Seagate Technology stock. The shares were sold at an average price of $60.31, for a total value of $21,504,857.32.
  • On Monday, January 4th, Holdings L.P. Valueact sold 291,713 shares of Seagate Technology stock. The shares were sold at an average price of $60.85, for a total value of $17,750,736.05.
  • On Thursday, December 31st, Holdings L.P. Valueact sold 680,016 shares of Seagate Technology stock. The shares were sold at an average price of $61.42, for a total value of $41,766,582.72.
  • On Tuesday, December 29th, Holdings L.P. Valueact sold 336,032 shares of Seagate Technology stock. The shares were sold at an average price of $61.12, for a total value of $20,538,275.84.

Shares of NASDAQ:STX opened at $59.89 on Thursday. Seagate Technology plc has a 1 year low of $39.02 and a 1 year high of $66.69. The business has a 50 day simple moving average of $62.08 and a two-hundred day simple moving average of $52.08. The firm has a market capitalization of $15.39 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 9.93 and a beta of 0.96. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.51 and a quick ratio of 1.09.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Thursday, October 22nd. The data storage provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.17. Seagate Technology had a return on equity of 68.62% and a net margin of 9.55%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts expect that Seagate Technology plc will post 4.34 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 6th. Stockholders of record on Wednesday, December 23rd were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Tuesday, December 22nd. This is an increase from Seagate Technology’s previous quarterly dividend of $0.65. Seagate Technology’s payout ratio is currently 58.64%.

Several institutional investors have recently bought and sold shares of STX. TCI Wealth Advisors Inc. raised its stake in shares of Seagate Technology by 159.3% during the third quarter. TCI Wealth Advisors Inc. now owns 529 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 325 shares in the last quarter. Paces Ferry Wealth Advisors LLC bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $32,000. Clearstead Advisors LLC bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $33,000. Flagship Harbor Advisors LLC raised its stake in shares of Seagate Technology by 461.7% during the third quarter. Flagship Harbor Advisors LLC now owns 719 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 591 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Seagate Technology by 31.1% during the second quarter. Orion Portfolio Solutions LLC now owns 1,045 shares of the data storage provider’s stock valued at $51,000 after acquiring an additional 248 shares in the last quarter. 83.24% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on STX shares. The Goldman Sachs Group raised their price objective on Seagate Technology from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Monday, December 14th. Morgan Stanley raised their price objective on Seagate Technology from $61.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 16th. Rosenblatt Securities raised their price objective on Seagate Technology from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, December 22nd. Cowen raised their price objective on Seagate Technology from $44.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, October 23rd. Finally, Royal Bank of Canada raised their price objective on Seagate Technology from $48.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 21st. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.27.

About Seagate Technology

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

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