SPC Financial Inc. Invests $204,000 in Seagate Technology PLC (NASDAQ:STX)

SPC Financial Inc. purchased a new position in shares of Seagate Technology PLC (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,800 shares of the data storage provider’s stock, valued at approximately $204,000.

Other hedge funds have also recently bought and sold shares of the company. ValueAct Holdings L.P. boosted its stake in Seagate Technology by 6.9% in the 2nd quarter. ValueAct Holdings L.P. now owns 31,554,360 shares of the data storage provider’s stock worth $1,486,841,000 after purchasing an additional 2,034,200 shares during the period. Morgan Stanley boosted its stake in Seagate Technology by 40.4% in the 2nd quarter. Morgan Stanley now owns 2,491,729 shares of the data storage provider’s stock worth $117,410,000 after purchasing an additional 717,007 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Seagate Technology by 240.5% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 568,264 shares of the data storage provider’s stock worth $30,567,000 after purchasing an additional 401,361 shares during the period. Virginia Retirement Systems ET AL boosted its stake in Seagate Technology by 5,423.9% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 370,100 shares of the data storage provider’s stock worth $17,439,000 after purchasing an additional 363,400 shares during the period. Finally, First Trust Advisors LP boosted its stake in Seagate Technology by 44.9% in the 2nd quarter. First Trust Advisors LP now owns 872,237 shares of the data storage provider’s stock worth $41,100,000 after purchasing an additional 270,141 shares during the period. Institutional investors own 85.36% of the company’s stock.

Shares of NASDAQ STX opened at $55.25 on Monday. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 9.81 and a beta of 1.64. The company has a current ratio of 1.95, a quick ratio of 1.52 and a debt-to-equity ratio of 1.97. Seagate Technology PLC has a 1-year low of $35.38 and a 1-year high of $57.20. The stock’s 50-day moving average is $53.43 and its 200 day moving average is $48.28.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Seagate Technology had a return on equity of 72.07% and a net margin of 19.36%. Seagate Technology’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period last year, the firm posted $1.62 EPS. On average, analysts forecast that Seagate Technology PLC will post 4.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.56%. Seagate Technology’s dividend payout ratio is 52.28%.

Several research analysts have commented on STX shares. Susquehanna Bancshares cut their target price on Seagate Technology from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Monday, September 23rd. Craig Hallum downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 target price for the company. in a research note on Friday, September 20th. Wells Fargo & Co raised their target price on Seagate Technology from $45.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, September 13th. BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Morgan Stanley reiterated a “buy” rating and set a $60.00 price target on shares of Seagate Technology in a research report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Seagate Technology has a consensus rating of “Hold” and an average price target of $48.10.

In related news, CEO William D. Mosley sold 90,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $54.31, for a total transaction of $4,887,900.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey D. Nygaard sold 12,000 shares of Seagate Technology stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $53.78, for a total value of $645,360.00. Following the completion of the transaction, the executive vice president now directly owns 31,985 shares in the company, valued at $1,720,153.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,000 shares of company stock worth $7,145,110. 1.12% of the stock is currently owned by insiders.

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

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