SeaBridge Investment Advisors LLC decreased its position in Seagate Technology PLC (NASDAQ:STX) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 87,406 shares of the data storage provider’s stock after selling 2,160 shares during the period. Seagate Technology comprises about 1.6% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. SeaBridge Investment Advisors LLC’s holdings in Seagate Technology were worth $4,702,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of STX. Covington Capital Management acquired a new position in Seagate Technology in the 2nd quarter worth approximately $26,000. CWM LLC boosted its stake in shares of Seagate Technology by 61.3% during the 2nd quarter. CWM LLC now owns 789 shares of the data storage provider’s stock valued at $37,000 after buying an additional 300 shares during the period. HM Payson & Co. acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at $38,000. Quantamental Technologies LLC acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at $39,000. Finally, CSat Investment Advisory L.P. boosted its stake in shares of Seagate Technology by 110.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,107 shares of the data storage provider’s stock valued at $52,000 after buying an additional 580 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. KeyCorp set a $58.00 target price on shares of Seagate Technology and gave the company a “hold” rating in a research note on Tuesday, September 10th. BidaskClub raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Goldman Sachs Group set a $37.00 target price on shares of Seagate Technology and gave the company a “sell” rating in a research note on Sunday, July 21st. Wells Fargo & Co lifted their target price on shares of Seagate Technology from $45.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, September 13th. Finally, Susquehanna Bancshares decreased their target price on shares of Seagate Technology from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Seagate Technology presently has an average rating of “Hold” and a consensus target price of $48.10.
Shares of STX stock traded up $0.35 on Tuesday, hitting $55.83. The company’s stock had a trading volume of 39,433 shares, compared to its average volume of 2,222,424. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.95 and a quick ratio of 1.52. Seagate Technology PLC has a fifty-two week low of $35.38 and a fifty-two week high of $57.20. The firm’s fifty day moving average price is $53.75 and its 200-day moving average price is $48.38. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 9.77 and a beta of 1.64.
Seagate Technology (NASDAQ:STX) last announced its earnings results on Friday, August 2nd. The data storage provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.33 billion. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The business’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. Analysts predict that Seagate Technology PLC will post 4.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th were issued a $0.63 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.52 annualized dividend and a yield of 4.51%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.28%.
About Seagate Technology
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.
See Also: Why do companies engage in swaps?
Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology PLC (NASDAQ:STX).
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.