Engineers Gate Manager LP boosted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 139.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,784 shares of the data storage provider’s stock after purchasing an additional 36,526 shares during the period. Engineers Gate Manager LP’s holdings in Seagate Technology were worth $2,083,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of STX. ValueAct Holdings L.P. lifted its stake in Seagate Technology by 44.8% in the second quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after acquiring an additional 4,276,275 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Seagate Technology by 7,384.8% in the second quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock worth $104,662,000 after buying an additional 2,664,861 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Seagate Technology by 7.4% in the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after buying an additional 2,292,075 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Seagate Technology by 181.1% in the second quarter. Schroder Investment Management Group now owns 1,772,547 shares of the data storage provider’s stock worth $68,970,000 after buying an additional 1,141,917 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Seagate Technology by 39.4% in the third quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock worth $96,064,000 after buying an additional 817,861 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.
STX has been the subject of a number of analyst reports. Mizuho restated a “hold” rating and issued a $36.00 price objective on shares of Seagate Technology in a research note on Monday, October 9th. FBN Securities cut shares of Seagate Technology from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $40.00 to $32.00 in a research note on Monday, September 11th. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, October 26th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $35.00 target price on shares of Seagate Technology in a research report on Friday, September 1st. Finally, BidaskClub raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $41.53.
Seagate Technology (NASDAQ:STX) last posted its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. equities research analysts expect that Seagate Technology PLC will post 3.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date is Tuesday, December 19th. Seagate Technology’s payout ratio is currently 95.09%.
In other news, Director Edward J. Zander sold 15,089 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $38.79, for a total transaction of $585,302.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David H. Morton, Jr. sold 7,909 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $40.00, for a total value of $316,360.00. Following the sale, the chief financial officer now owns 25,561 shares in the company, valued at $1,022,440. The disclosure for this sale can be found here. Insiders sold 42,481 shares of company stock worth $1,655,011 in the last 90 days. 0.87% of the stock is owned by company insiders.
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Seagate Technology Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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