Foundations Investment Advisors LLC decreased its position in shares of Seagate Technology plc (NASDAQ:STX) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,824 shares of the data storage provider’s stock after selling 6,779 shares during the period. Foundations Investment Advisors LLC’s holdings in Seagate Technology were worth $403,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in STX. Morgan Stanley grew its stake in shares of Seagate Technology by 6.2% in the third quarter. Morgan Stanley now owns 3,316,152 shares of the data storage provider’s stock worth $163,387,000 after acquiring an additional 194,167 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Seagate Technology by 238.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,554,600 shares of the data storage provider’s stock valued at $32,598,000 after purchasing an additional 1,800,060 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Seagate Technology by 199.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,593,554 shares of the data storage provider’s stock valued at $79,789,000 after purchasing an additional 1,060,846 shares during the period. O Shaughnessy Asset Management LLC grew its position in Seagate Technology by 41.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,317,866 shares of the data storage provider’s stock worth $64,966,000 after purchasing an additional 384,938 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Seagate Technology during the fourth quarter valued at about $65,734,000. Institutional investors own 83.24% of the company’s stock.
Shares of STX stock opened at $59.89 on Thursday. Seagate Technology plc has a 52 week low of $39.02 and a 52 week high of $66.69. The stock has a market capitalization of $15.39 billion, a PE ratio of 15.76, a PEG ratio of 9.93 and a beta of 0.96. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.09 and a current ratio of 1.51. The stock’s fifty day moving average is $62.08 and its 200-day moving average is $52.08.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Thursday, October 22nd. The data storage provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.17. Seagate Technology had a net margin of 9.55% and a return on equity of 68.62%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue was down 10.2% on a year-over-year basis. As a group, analysts forecast that Seagate Technology plc will post 4.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 6th. Investors of record on Wednesday, December 23rd were issued a $0.67 dividend. The ex-dividend date was Tuesday, December 22nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.47%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.65. Seagate Technology’s dividend payout ratio (DPR) is currently 58.64%.
Several brokerages recently issued reports on STX. Zacks Investment Research upgraded Seagate Technology from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a research note on Friday, September 18th. Loop Capital raised their target price on Seagate Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. BidaskClub lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Thursday, January 7th. Craig Hallum increased their price objective on shares of Seagate Technology from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Finally, Cowen lifted their target price on shares of Seagate Technology from $44.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, October 23rd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.27.
In other Seagate Technology news, Director Stephen J. Luczo sold 7,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $52.49, for a total transaction of $367,430.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeffrey D. Fochtman sold 4,695 shares of the company’s stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $63.42, for a total transaction of $297,756.90. Following the transaction, the senior vice president now owns 7,724 shares in the company, valued at $489,856.08. The disclosure for this sale can be found here. Insiders sold a total of 3,841,867 shares of company stock valued at $234,245,521 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.
Seagate Technology Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.
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