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 (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.
ILLEGAL ACTIVITY NOTICE: This report was first published by Week Herald and is owned by of Week Herald. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://weekherald.com/2018/01/18/davis-r-m-inc-acquires-new-position-in-seagate-technology-plc-stx.html.
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.
Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology PLC (NASDAQ:STX).
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.