Elkfork Partners LLC grew its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 20.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,744 shares of the data storage provider’s stock after acquiring an additional 2,884 shares during the period. Elkfork Partners LLC’s holdings in Seagate Technology were worth $789,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Front Row Advisors LLC raised its position in shares of Seagate Technology by 91.0% during the 1st quarter. Front Row Advisors LLC now owns 573 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 273 shares during the last quarter. CWM LLC raised its position in shares of Seagate Technology by 61.3% during the 2nd quarter. CWM LLC now owns 789 shares of the data storage provider’s stock worth $37,000 after purchasing an additional 300 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Seagate Technology during the 2nd quarter worth approximately $39,000. Ibex Wealth Advisors acquired a new position in shares of Seagate Technology during the 2nd quarter worth approximately $61,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of Seagate Technology during the 1st quarter worth approximately $62,000. Institutional investors own 85.15% of the company’s stock.
In related news, CEO William D. Mosley sold 90,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $54.31, for a total value of $4,887,900.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen J. Luczo sold 5,000 shares of Seagate Technology stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $52.20, for a total transaction of $261,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,000 shares of company stock valued at $6,605,500. Insiders own 1.12% of the company’s stock.
Several research firms have commented on STX. Cleveland Research began coverage on shares of Seagate Technology in a research note on Friday, June 7th. They issued a “hold” rating for the company. Barclays lifted their target price on shares of Seagate Technology from $37.00 to $40.00 and gave the stock an “underweight” rating in a research note on Friday, September 20th. Mizuho boosted their price objective on shares of Seagate Technology from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Susquehanna Bancshares lowered their price objective on shares of Seagate Technology from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Monday, September 23rd. Finally, BidaskClub raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the company. Seagate Technology currently has a consensus rating of “Hold” and an average price target of $48.10.
STX stock opened at $53.81 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.95 and a quick ratio of 1.52. The firm has a market cap of $14.02 billion, a PE ratio of 11.06, a P/E/G ratio of 9.47 and a beta of 1.65. Seagate Technology PLC has a 12 month low of $35.38 and a 12 month high of $57.20. The firm has a 50 day simple moving average of $50.26 and a 200 day simple moving average of $47.62.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Friday, August 2nd. The data storage provider reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology PLC will post 4.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 25th will be given a $0.63 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.52 dividend on an annualized basis and a yield of 4.68%. Seagate Technology’s payout ratio is 52.28%.
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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