SkyBridge Capital II LLC Trims Holdings in Seagate Technology PLC (STX)

SkyBridge Capital II LLC reduced its position in shares of Seagate Technology PLC (NASDAQ:STX) by 17.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 234,377 shares of the data storage provider’s stock after selling 49,920 shares during the quarter. Seagate Technology comprises about 2.3% of SkyBridge Capital II LLC’s portfolio, making the stock its 29th biggest position. SkyBridge Capital II LLC owned 0.08% of Seagate Technology worth $7,774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Seagate Technology by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after acquiring an additional 2,292,075 shares in the last quarter. BlackRock Inc. boosted its position in Seagate Technology by 1.4% during the 2nd quarter. BlackRock Inc. now owns 18,592,514 shares of the data storage provider’s stock valued at $720,459,000 after acquiring an additional 256,005 shares in the last quarter. ValueAct Holdings L.P. boosted its position in Seagate Technology by 44.8% during the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after acquiring an additional 4,276,275 shares in the last quarter. LSV Asset Management boosted its position in Seagate Technology by 1.7% during the 2nd quarter. LSV Asset Management now owns 6,521,232 shares of the data storage provider’s stock valued at $252,697,000 after acquiring an additional 106,811 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in Seagate Technology by 4.2% during the 3rd quarter. APG Asset Management N.V. now owns 3,392,370 shares of the data storage provider’s stock valued at $112,525,000 after acquiring an additional 135,300 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.

Several analysts have issued reports on STX shares. BidaskClub cut Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Craig Hallum raised Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, October 2nd. Zacks Investment Research raised Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Thursday, October 26th. Finally, Vetr cut Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 price objective for the company. in a research report on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Seagate Technology currently has an average rating of “Hold” and an average price target of $41.53.

In other Seagate Technology news, Director Dambisa F. Moyo sold 8,715 shares of Seagate Technology stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total transaction of $339,972.15. Following the completion of the sale, the director now owns 3,316 shares of the company’s stock, valued at approximately $129,357.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David H. Morton, Jr. sold 7,909 shares of Seagate Technology stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $40.00, for a total value of $316,360.00. Following the sale, the chief financial officer now directly owns 25,561 shares of the company’s stock, valued at approximately $1,022,440. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,981 shares of company stock valued at $1,656,761. 0.87% of the stock is currently owned by insiders.

Shares of Seagate Technology PLC (STX) opened at $39.13 on Wednesday. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The company has a market capitalization of $11,341.29, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.52 and a beta of 1.67.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. equities analysts forecast that Seagate Technology PLC will post 3.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.44%. Seagate Technology’s dividend payout ratio is currently 95.09%.

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Seagate Technology 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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