Toronto Dominion Bank Boosts Stake in Seagate Technology PLC (STX)

Toronto Dominion Bank lifted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 16.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,423 shares of the data storage provider’s stock after buying an additional 23,815 shares during the period. Toronto Dominion Bank’s holdings in Seagate Technology were worth $8,111,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of STX. Mn Services Vermogensbeheer B.V. raised its position in shares of Seagate Technology by 1.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 149,172 shares of the data storage provider’s stock worth $7,144,000 after acquiring an additional 1,500 shares during the period. Cetera Advisor Networks LLC raised its position in shares of Seagate Technology by 10.9% in the first quarter. Cetera Advisor Networks LLC now owns 6,873 shares of the data storage provider’s stock worth $332,000 after acquiring an additional 678 shares during the period. First Allied Advisory Services Inc. raised its position in shares of Seagate Technology by 8.4% in the first quarter. First Allied Advisory Services Inc. now owns 32,215 shares of the data storage provider’s stock worth $1,542,000 after acquiring an additional 2,488 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in shares of Seagate Technology by 3.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 25,798 shares of the data storage provider’s stock worth $1,235,000 after acquiring an additional 897 shares during the period. Finally, Brave Asset Management Inc. acquired a new position in shares of Seagate Technology in the first quarter worth about $208,000. Institutional investors and hedge funds own 92.01% of the company’s stock.

NASDAQ STX traded down $0.13 during trading hours on Monday, hitting $45.09. 57,909 shares of the company’s stock traded hands, compared to its average volume of 3,507,441. Seagate Technology PLC has a 52-week low of $35.38 and a 52-week high of $59.93. The stock has a market cap of $12.52 billion, a PE ratio of 8.15, a P/E/G ratio of 7.81 and a beta of 1.63. The company has a current ratio of 1.62, a quick ratio of 1.16 and a debt-to-equity ratio of 2.68.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 30th. The data storage provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the company earned $1.46 EPS. Seagate Technology’s revenue was down 17.5% compared to the same quarter last year. On average, sell-side analysts forecast that Seagate Technology PLC will post 4.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 19th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, June 18th. This represents a $2.52 annualized dividend and a yield of 5.59%. Seagate Technology’s dividend payout ratio is presently 45.74%.

A number of analysts have recently commented on STX shares. 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 raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Friday, April 26th. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Wednesday, May 1st. Craig Hallum raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 target price for the company 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 for the company in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Seagate Technology has a consensus rating of “Hold” and a consensus price target of $46.75.

In other Seagate Technology news, Director Stephen J. Luczo sold 50,000 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $46.09, for a total value of $2,304,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen J. Luczo sold 99,999 shares of the business’s stock in a transaction dated 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. 1.00% of the stock is currently owned by corporate insiders.

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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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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