Ameriprise Financial Inc. lessened its position in Seagate Technology PLC (NASDAQ:STX) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,970 shares of the data storage provider’s stock after selling 35,756 shares during the period. Ameriprise Financial Inc. owned 0.10% of Seagate Technology worth $9,132,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Seagate Technology by 74.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock valued at $63,947,000 after buying an additional 703,822 shares during the last quarter. CIBC World Markets Inc. bought a new stake in shares of Seagate Technology in the 2nd quarter valued at about $9,699,000. Aviva PLC grew its position in shares of Seagate Technology by 2.8% in the 2nd quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock valued at $7,022,000 after buying an additional 4,950 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Seagate Technology in the 2nd quarter valued at about $344,000. Finally, Iat Reinsurance Co. LTD. bought a new stake in shares of Seagate Technology during the 3rd quarter valued at about $12,455,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.
Several brokerages recently commented on STX. Vetr lowered Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $45.46 target price on the stock. in a research report on Tuesday, December 12th. BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 8th. KeyCorp restated a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. Guggenheim restated a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. Finally, BMO Capital Markets restated a “hold” rating and set a $40.00 target price on shares of Seagate Technology in a research report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.53.
Seagate Technology PLC (NASDAQ STX) opened at $42.17 on Friday. 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 firm has a market capitalization of $12,200.00, a P/E ratio of 15.97, a P/E/G ratio of 0.55 and a beta of 1.67.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. analysts anticipate that Seagate Technology PLC will post 4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date is Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is currently 95.45%.
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About Seagate Technology
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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