United Services Automobile Association lowered its position in shares of Seagate Technology PLC (NASDAQ:STX) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 265,919 shares of the data storage provider’s stock after selling 59,318 shares during the quarter. United Services Automobile Association owned approximately 0.09% of Seagate Technology worth $10,262,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in STX. Russell Investments Group Ltd. boosted its stake in Seagate Technology by 44.5% during the third quarter. Russell Investments Group Ltd. now owns 72,892 shares of the data storage provider’s stock valued at $3,432,000 after buying an additional 22,459 shares in the last quarter. US Bancorp DE boosted its stake in Seagate Technology by 46.1% during the third quarter. US Bancorp DE now owns 15,990 shares of the data storage provider’s stock valued at $757,000 after buying an additional 5,046 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Seagate Technology by 49.2% during the third quarter. Victory Capital Management Inc. now owns 171,623 shares of the data storage provider’s stock valued at $8,126,000 after buying an additional 56,597 shares in the last quarter. Private Advisor Group LLC boosted its stake in Seagate Technology by 48.8% during the third quarter. Private Advisor Group LLC now owns 8,097 shares of the data storage provider’s stock valued at $383,000 after buying an additional 2,654 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Seagate Technology by 6.2% during the third quarter. Commonwealth Equity Services LLC now owns 58,376 shares of the data storage provider’s stock valued at $2,764,000 after buying an additional 3,404 shares in the last quarter. Institutional investors own 94.39% of the company’s stock.
In other news, EVP James J. Murphy sold 20,832 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $45.75, for a total transaction of $953,064.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen J. Luczo sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $46.09, for a total value of $2,304,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 3,700,000 shares of company stock valued at $166,497,500 and have sold 120,832 shares valued at $5,541,064. Company insiders own 1.00% of the company’s stock.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, February 4th. The data storage provider reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Seagate Technology had a return on equity of 105.74% and a net margin of 14.77%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the company posted $1.48 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. Research analysts anticipate that Seagate Technology PLC will post 4.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $2.52 dividend on an annualized basis and a yield of 5.27%. Seagate Technology’s payout ratio is presently 45.74%.
Several research analysts recently weighed in on STX shares. ValuEngine raised Seagate Technology from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. BidaskClub raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 27th. Evercore ISI decreased their target price on Seagate Technology from $40.00 to $33.00 and set an “underperform” rating for the company in a research note on Monday, January 14th. Zacks Investment Research reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Friday, November 16th. Finally, Craig Hallum decreased their target price on Seagate Technology from $47.00 to $41.00 and set a “hold” rating for the company in a research note on Tuesday, February 5th. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the company. Seagate Technology has a consensus rating of “Hold” and a consensus target price of $45.50.
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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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