Vestmark Advisory Solutions Inc. Invests $1.93 Million in Seagate Technology PLC (NASDAQ:STX)

Vestmark Advisory Solutions Inc. bought a new stake in Seagate Technology PLC (NASDAQ:STX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,248 shares of the data storage provider’s stock, valued at approximately $1,927,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its stake in shares of Seagate Technology by 1.3% during the third quarter. Vanguard Group Inc now owns 31,122,744 shares of the data storage provider’s stock valued at $1,473,662,000 after purchasing an additional 400,201 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Seagate Technology by 4.6% during the third quarter. TIAA CREF Investment Management LLC now owns 6,800 shares of the data storage provider’s stock valued at $322,000 after purchasing an additional 298 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Seagate Technology during the fourth quarter valued at about $456,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Seagate Technology by 1.1% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 36,971 shares of the data storage provider’s stock valued at $1,427,000 after purchasing an additional 400 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Seagate Technology by 5.1% during the fourth quarter. Victory Capital Management Inc. now owns 180,317 shares of the data storage provider’s stock valued at $6,958,000 after purchasing an additional 8,694 shares in the last quarter. 85.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on STX shares. Craig Hallum raised Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Wednesday, May 1st. Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Wednesday, May 1st. Zacks Investment Research raised Seagate Technology from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Friday, April 26th. Argus raised Seagate Technology from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, May 3rd. Finally, Cleveland Research started coverage on Seagate Technology in a research note on Friday, June 7th. They set a “hold” rating on the stock. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.75.

Shares of Seagate Technology stock traded down $0.30 during midday trading on Friday, reaching $44.26. The company had a trading volume of 2,314,360 shares, compared to its average volume of 2,723,164. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.62 and a quick ratio of 1.16. The firm has a market cap of $12.25 billion, a P/E ratio of 8.03, a P/E/G ratio of 7.65 and a beta of 1.66. Seagate Technology PLC has a fifty-two week low of $35.38 and a fifty-two week high of $59.93.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 30th. The data storage provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.12. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.32 billion. Seagate Technology had a return on equity of 90.33% and a net margin of 13.73%. The firm’s quarterly revenue was down 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. Equities analysts anticipate that Seagate Technology PLC will post 4.78 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 19th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Tuesday, June 18th. Seagate Technology’s dividend payout ratio is currently 45.74%.

In other Seagate Technology news, Director Stephen J. Luczo sold 99,999 shares of Seagate Technology stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $49.33, for a total value of $4,932,950.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

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Seagate Technology Company 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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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