Polianta Ltd Grows Position in Seagate Technology PLC (STX)

Polianta Ltd increased its position in shares of Seagate Technology PLC (NASDAQ:STX) by 32.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 30,500 shares of the data storage provider’s stock after buying an additional 7,500 shares during the quarter. Polianta Ltd’s holdings in Seagate Technology were worth $1,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. WFG Advisors LP grew its stake in shares of Seagate Technology by 16,536.4% in the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after purchasing an additional 3,638 shares during the last quarter. Balentine LLC grew its stake in shares of Seagate Technology by 56.8% in the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after purchasing an additional 1,619 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Seagate Technology in the 2nd quarter valued at approximately $150,000. SpiderRock Advisors LLC grew its stake in shares of Seagate Technology by 2,419.5% in the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after purchasing an additional 5,347 shares during the last quarter. Finally, Putnam FL Investment Management Co. purchased a new position in shares of Seagate Technology in the 3rd quarter valued at approximately $215,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

In other news, CFO David H. Morton, Jr. sold 7,909 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total value of $316,360.00. Following the completion of the transaction, the chief financial officer now directly owns 25,561 shares of the company’s stock, valued at $1,022,440. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dambisa F. Moyo sold 8,715 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total value of $339,972.15. Following the completion of the transaction, the director now directly owns 3,316 shares of the company’s stock, valued at $129,357.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,481 shares of company stock valued at $1,655,011. 0.87% of the stock is currently owned by insiders.

Several research analysts have weighed in on the company. Craig Hallum reiterated a “buy” rating and issued a $56.00 target price (up from $50.00) on shares of Seagate Technology in a research note on Tuesday. Wells Fargo & Co reissued a “market perform” rating and issued a $45.00 price target (up from $38.00) on shares of Seagate Technology in a report on Tuesday. Maxim Group raised their price target on Seagate Technology from $43.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday. Royal Bank of Canada raised their price target on Seagate Technology to $48.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Loop Capital raised their price target on Seagate Technology to $55.00 and gave the company a “buy” rating in a report on Tuesday. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $43.15.

Shares of Seagate Technology PLC (NASDAQ:STX) traded up $3.06 during mid-day trading on Tuesday, reaching $46.00. The company had a trading volume of 23,458,299 shares, compared to its average volume of 6,960,120. The firm has a market capitalization of $13,510.00, a PE ratio of 17.42, a PEG ratio of 0.57 and a beta of 1.68. 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.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.10. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. Seagate Technology’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. sell-side analysts anticipate that Seagate Technology PLC will post 4 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, December 19th. This represents a $2.52 annualized dividend and a yield of 5.48%. Seagate Technology’s dividend payout ratio is presently 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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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