Valley National Advisers Inc. cut its holdings in Seagate Technology PLC (NASDAQ:STX) by 38.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 817 shares of the data storage provider’s stock after selling 500 shares during the period. Valley National Advisers Inc.’s holdings in Seagate Technology were worth $32,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC boosted its stake in shares of Seagate Technology by 4.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 6,800 shares of the data storage provider’s stock valued at $322,000 after purchasing an additional 298 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in Seagate Technology by 0.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 52,100 shares of the data storage provider’s stock valued at $2,011,000 after acquiring an additional 300 shares during the period. Certified Advisory Corp lifted its position in Seagate Technology by 17.5% during the 4th quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock valued at $78,000 after acquiring an additional 302 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Seagate Technology by 1.1% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 36,971 shares of the data storage provider’s stock valued at $1,427,000 after acquiring an additional 400 shares during the period. Finally, Cigna Investments Inc. New lifted its position in Seagate Technology by 7.9% during the 4th quarter. Cigna Investments Inc. New now owns 5,475 shares of the data storage provider’s stock valued at $211,000 after acquiring an additional 400 shares during the period. 96.05% of the stock is owned by institutional investors.
Shares of NASDAQ:STX traded up $0.21 during midday trading on Friday, reaching $50.50. 1,736,018 shares of the company were exchanged, compared to its average volume of 2,663,476. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 5.42 and a beta of 1.66. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.12 and a current ratio of 1.60. Seagate Technology PLC has a one year low of $35.38 and a one year high of $62.13.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 20th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Tuesday, March 19th. Seagate Technology’s dividend payout ratio is currently 45.74%.
Several research analysts have issued reports on STX shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $42.00 target price on shares of Seagate Technology in a report on Wednesday, January 2nd. Mizuho reissued a “neutral” rating on shares of Seagate Technology in a report on Tuesday, February 5th. ValuEngine cut shares of Seagate Technology from a “sell” rating to a “strong sell” rating in a report on Thursday, January 17th. Wells Fargo & Co decreased their price objective on shares of Seagate Technology from $50.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, February 5th. Finally, Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Tuesday, February 5th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $45.33.
In other news, Director Holdings L.P. Valueact bought 750,000 shares of Seagate Technology stock in a transaction dated Wednesday, February 6th. The shares were acquired at an average price of $45.68 per share, with a total value of $34,260,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James J. Murphy sold 20,832 shares of the company’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $45.75, for a total transaction of $953,064.00. The disclosure for this sale can be found here. In the last three months, insiders bought 3,700,000 shares of company stock worth $166,497,500 and sold 120,832 shares worth $5,541,064. Corporate 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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