Gateway Investment Advisers LLC reduced its stake in Seagate Technology PLC (NASDAQ:STX) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,484 shares of the data storage provider’s stock after selling 752 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Seagate Technology were worth $550,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Kepos Capital LP acquired a new stake in shares of Seagate Technology during the 3rd quarter worth approximately $3,872,000. Standard Life Aberdeen plc boosted its position in Seagate Technology by 41.9% in the fourth quarter. Standard Life Aberdeen plc now owns 302,802 shares of the data storage provider’s stock valued at $11,642,000 after buying an additional 89,387 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Seagate Technology during the fourth quarter valued at $319,000. Boston Advisors LLC bought a new position in shares of Seagate Technology during the fourth quarter valued at $271,000. Finally, Certified Advisory Corp raised 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 acquiring an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 95.77% of the company’s stock.
STX has been the subject of a number of analyst reports. BidaskClub raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Friday, April 26th. Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Wednesday, May 1st. Craig Hallum upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Wednesday, May 1st. Finally, Argus raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, May 3rd. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. Seagate Technology currently has a consensus rating of “Hold” and an average price target of $46.75.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 30th. The data storage provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. Seagate Technology had a net margin of 13.73% and a return on equity of 90.33%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was down 17.5% compared to the same quarter last year. As a group, analysts predict that Seagate Technology PLC will post 4.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 19th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Tuesday, June 18th. Seagate Technology’s payout ratio is 45.74%.
In other news, Director Stephen J. Luczo sold 50,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $46.09, for a total transaction of $2,304,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen J. Luczo sold 99,999 shares of Seagate Technology stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $49.33, for a total transaction of $4,932,950.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,831 shares of company stock worth $10,474,015. 1.00% of the stock is owned by company insiders.
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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