Oppenheimer & Co. Inc. boosted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 49.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,156 shares of the data storage provider’s stock after acquiring an additional 3,706 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Seagate Technology were worth $528,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. ValueAct Holdings L.P. increased its stake in Seagate Technology by 4.4% during the second quarter. ValueAct Holdings L.P. now owns 22,404,700 shares of the data storage provider’s stock worth $1,265,194,000 after acquiring an additional 946,100 shares during the last quarter. Old Port Advisors bought a new position in shares of Seagate Technology during the second quarter valued at approximately $1,861,000. Chicago Equity Partners LLC bought a new position in shares of Seagate Technology during the second quarter valued at approximately $1,965,000. Standard Life Aberdeen plc grew its stake in shares of Seagate Technology by 8.4% during the second quarter. Standard Life Aberdeen plc now owns 208,273 shares of the data storage provider’s stock valued at $11,761,000 after buying an additional 16,137 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Seagate Technology during the third quarter valued at approximately $4,386,000. 83.57% of the stock is currently owned by institutional investors.
Shares of NASDAQ:STX opened at $45.80 on Thursday. Seagate Technology PLC has a 52-week low of $36.69 and a 52-week high of $62.70. The company has a market capitalization of $13.00 billion, a P/E ratio of 7.26, a PEG ratio of 0.69 and a beta of 1.71. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 19th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, December 18th. This represents a $2.52 annualized dividend and a yield of 5.50%. Seagate Technology’s dividend payout ratio (DPR) is currently 45.74%.
A number of research analysts have recently commented on STX shares. Zacks Investment Research cut Seagate Technology from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. BidaskClub cut Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. UBS Group cut Seagate Technology to a “neutral” rating in a research note on Tuesday, October 23rd. Goldman Sachs Group set a $39.00 target price on Seagate Technology and gave the company a “sell” rating in a research note on Wednesday, September 12th. Finally, Morgan Stanley cut their target price on Seagate Technology from $73.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.91.
In other Seagate Technology news, CFO Kathryn R. Scolnick sold 10,577 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $53.12, for a total transaction of $561,850.24. Following the completion of the sale, the chief financial officer now owns 759 shares in the company, valued at $40,318.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Holdings L.P. Valueact bought 509,492 shares of the stock in a transaction on Monday, August 13th. The shares were bought at an average price of $51.11 per share, with a total value of $26,040,136.12. The disclosure for this purchase can be found here. In the last three months, insiders purchased 4,055,357 shares of company stock worth $209,385,069 and sold 46,086 shares worth $2,529,660. 1.00% of the stock is owned by corporate insiders.
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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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