New Mexico Educational Retirement Board lowered its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,700 shares of the data storage provider’s stock after selling 500 shares during the period. New Mexico Educational Retirement Board’s holdings in Seagate Technology were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of STX. Financial Gravity Companies Inc. acquired a new stake in Seagate Technology in the 4th quarter valued at approximately $75,000. Essex Savings Bank acquired a new stake in Seagate Technology in the 4th quarter valued at approximately $70,000. Certified Advisory Corp raised its position in Seagate Technology by 17.5% in the 4th quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock valued at $78,000 after buying an additional 302 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in Seagate Technology in the 4th quarter valued at approximately $159,000. Finally, Lavaca Capital LLC acquired a new stake in Seagate Technology in the 4th quarter valued at approximately $177,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.
Several research analysts have weighed in on STX shares. ValuEngine lowered Seagate Technology from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 17th. Royal Bank of Canada reaffirmed a “hold” rating and set a $42.00 price target on shares of Seagate Technology in a research report on Wednesday, January 2nd. Zacks Investment Research raised Seagate Technology from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. UBS Group lowered their price target on Seagate Technology from $41.00 to $34.00 and set a “sell” rating on the stock in a research report on Tuesday, January 8th. Finally, BidaskClub raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.33.
Shares of NASDAQ STX opened at $48.94 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 2.24. Seagate Technology PLC has a 12 month low of $35.38 and a 12 month high of $60.35. The company has a market cap of $13.74 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 5.42 and a beta of 1.66.
Seagate Technology (NASDAQ:STX) last issued its earnings results on Monday, February 4th. The data storage provider reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Seagate Technology had a return on equity of 105.74% and a net margin of 14.77%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the company posted $1.48 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts expect that Seagate Technology PLC will post 4.66 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $2.52 annualized dividend and a yield of 5.15%. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.
In related news, Director Holdings L.P. Valueact acquired 750,000 shares of the company’s stock in a transaction on Wednesday, February 6th. The stock was purchased at an average cost of $45.68 per share, with a total value of $34,260,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Valueact Capital Master Fund, acquired 2,225,000 shares of the company’s stock in a transaction on Friday, February 8th. The stock was bought at an average cost of $44.90 per share, with a total value of $99,902,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 3,700,000 shares of company stock valued at $166,497,500 and sold 120,832 shares valued at $5,541,064. 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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