Deutsche Bank AG lifted its stake in Seagate Technology PLC (NASDAQ:STX) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,957,420 shares of the data storage provider’s stock after buying an additional 439,327 shares during the period. Deutsche Bank AG owned approximately 0.70% of Seagate Technology worth $75,531,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new position in Seagate Technology in the 4th quarter worth about $75,000. Essex Savings Bank bought a new position in shares of Seagate Technology during the fourth quarter valued at approximately $70,000. Certified Advisory Corp boosted its stake in shares of Seagate Technology by 17.5% during the fourth quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock valued at $78,000 after purchasing an additional 302 shares in the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Seagate Technology during the fourth quarter valued at approximately $159,000. Finally, Lavaca Capital LLC bought a new position in shares of Seagate Technology during the fourth quarter valued at approximately $177,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.
Several equities research analysts have weighed in on STX shares. Zacks Investment Research upgraded shares of Seagate Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. BidaskClub cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 target price on shares of Seagate Technology in a report on Thursday, March 28th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Tuesday, February 5th. Finally, ValuEngine raised shares of Seagate Technology from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the stock. Seagate Technology has a consensus rating of “Hold” and a consensus target price of $44.73.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, February 4th. The data storage provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. Seagate Technology had a net margin of 14.77% and a return on equity of 105.74%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business’s revenue was down 6.6% on a year-over-year basis. Equities analysts expect that Seagate Technology PLC will post 4.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 5.60%. The ex-dividend date was Tuesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.
In other news, Director Stephen J. Luczo sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $46.09, for a total value of $2,304,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Holdings L.P. Valueact bought 725,000 shares of the stock in a transaction dated Friday, February 8th. The stock was bought at an average price of $44.60 per share, with a total value of $32,335,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 3,700,000 shares of company stock valued at $166,497,500 and have sold 120,832 shares valued at $5,541,064. Insiders own 1.00% of the company’s stock.
About Seagate Technology
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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