Davis R M Inc. Acquires New Position in Seagate Technology PLC (STX)

Davis R M Inc. acquired a new stake in shares of Seagate Technology PLC (NASDAQ:STX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,562 shares of the data storage provider’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds also recently bought and sold shares of STX. ValueAct Holdings L.P. boosted its stake in shares of Seagate Technology by 55.3% during the third quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after acquiring an additional 7,642,835 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Seagate Technology by 7,384.8% in the 2nd 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. boosted its stake in Seagate Technology by 7.4% in the 2nd 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. Bank of New York Mellon Corp boosted its stake in Seagate Technology by 39.4% in the 3rd 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. Finally, Parametric Portfolio Associates LLC boosted its stake in Seagate Technology by 98.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,415,048 shares of the data storage provider’s stock worth $54,833,000 after buying an additional 700,726 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors and hedge funds.

STX has been the topic of a number of research analyst reports. Cowen reissued a “hold” rating and issued a $36.00 price target on shares of Seagate Technology in a research note on Friday, October 13th. BidaskClub lowered Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Jefferies Group set a $29.00 price target on Seagate Technology and gave the stock a “hold” rating in a research note on Sunday, October 15th. Mizuho reissued a “hold” rating and issued a $36.00 price target on shares of Seagate Technology in a research note on Monday, October 9th. Finally, Barclays raised their price target on Seagate Technology from $29.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $43.39.

Seagate Technology PLC (STX) opened at $52.14 on Thursday. The company has a market capitalization of $15,090.00, a PE ratio of 19.75, a PEG ratio of 0.76 and a beta of 1.68. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. Seagate Technology PLC has a twelve month low of $30.60 and a twelve month high of $52.42.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. equities research analysts anticipate that Seagate Technology PLC will post 4.32 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.52 annualized dividend and a dividend yield of 4.83%. Seagate Technology’s payout ratio is currently 95.45%.

In related news, CFO David H. Morton, Jr. sold 7,909 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $316,360.00. Following the sale, the chief financial officer now directly owns 25,561 shares in the company, valued at approximately $1,022,440. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dambisa F. Moyo sold 8,715 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $39.01, for a total value of $339,972.15. Following the sale, the director now owns 3,316 shares in the company, valued at $129,357.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,744 shares of company stock worth $9,317,320. Company insiders own 0.87% of the company’s stock.

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

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