Stratos Wealth Partners LTD. lifted its stake in Seagate Technology PLC (NASDAQ:STX) by 45.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,734 shares of the data storage provider’s stock after acquiring an additional 1,791 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Seagate Technology were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH boosted its holdings in shares of Seagate Technology by 567.0% in the first quarter. Allianz Asset Management GmbH now owns 104,689 shares of the data storage provider’s stock worth $6,127,000 after buying an additional 88,993 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Seagate Technology by 41.0% in the second quarter. State of Alaska Department of Revenue now owns 29,416 shares of the data storage provider’s stock worth $1,660,000 after buying an additional 8,550 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Seagate Technology by 10.6% in the second quarter. Xact Kapitalforvaltning AB now owns 72,327 shares of the data storage provider’s stock worth $4,084,000 after buying an additional 6,905 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Seagate Technology in the second quarter worth approximately $256,000. Finally, Alethea Capital Management LLC purchased a new position in shares of Seagate Technology in the second quarter worth approximately $2,503,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.
STX stock opened at $42.55 on Wednesday. Seagate Technology PLC has a one year low of $36.69 and a one year high of $62.70. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $11.99 billion, a PE ratio of 7.72, a P/E/G ratio of 0.63 and a beta of 1.71.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 19th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 5.92%. The ex-dividend date is Tuesday, December 18th. Seagate Technology’s dividend payout ratio is presently 45.74%.
In other Seagate Technology news, Director Holdings L.P. Valueact purchased 23,200 shares of Seagate Technology stock in a transaction that occurred on Friday, August 17th. The shares were bought at an average price of $52.95 per share, for a total transaction of $1,228,440.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathryn R. Scolnick sold 10,577 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $53.12, for a total transaction of $561,850.24. Following the completion of the sale, the chief financial officer now owns 759 shares in the company, valued at approximately $40,318.08. The disclosure for this sale can be found here. Insiders sold 46,086 shares of company stock worth $2,529,660 in the last 90 days. 1.00% of the stock is currently owned by company insiders.
Several brokerages have weighed in on STX. Longbow Research reaffirmed a “hold” rating on shares of Seagate Technology in a report on Monday. Maxim Group lowered their price target on shares of Seagate Technology from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Wednesday, November 7th. BidaskClub raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Morgan Stanley lowered their price target on shares of Seagate Technology from $73.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, November 5th. Finally, Royal Bank of Canada lowered their price target on shares of Seagate Technology from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Monday, November 5th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the stock. Seagate Technology has a consensus rating of “Hold” and an average target price of $50.91.
Seagate Technology Company 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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