TRU Independence Asset Management 2 LLC Takes $44,000 Position in Seagate Technology plc (NASDAQ:STX)

TRU Independence Asset Management 2 LLC acquired a new position in shares of Seagate Technology plc (NASDAQ:STX) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 700 shares of the data storage provider’s stock, valued at approximately $44,000.

A number of other hedge funds have also recently modified their holdings of STX. Federated Hermes Inc. bought a new stake in Seagate Technology during the 3rd quarter worth $125,000. Public Sector Pension Investment Board lifted its stake in shares of Seagate Technology by 25.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 27,341 shares of the data storage provider’s stock valued at $1,347,000 after purchasing an additional 5,600 shares during the period. Chartwell Investment Partners LLC lifted its stake in shares of Seagate Technology by 63.7% in the 3rd quarter. Chartwell Investment Partners LLC now owns 161,386 shares of the data storage provider’s stock valued at $7,951,000 after purchasing an additional 62,795 shares during the period. Cubist Systematic Strategies LLC raised its stake in Seagate Technology by 6.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 76,198 shares of the data storage provider’s stock worth $3,754,000 after buying an additional 4,848 shares during the period. Finally, Captrust Financial Advisors raised its stake in Seagate Technology by 4.2% during the 3rd quarter. Captrust Financial Advisors now owns 9,907 shares of the data storage provider’s stock worth $492,000 after buying an additional 402 shares during the period. Institutional investors and hedge funds own 82.51% of the company’s stock.

In other news, Director Stephanie Tilenius sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $77.38, for a total transaction of $541,660.00. Following the transaction, the director now directly owns 16,468 shares of the company’s stock, valued at $1,274,293.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine Schuelke sold 4,525 shares of the firm’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $73.20, for a total value of $331,230.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,636,975 shares of company stock worth $100,101,615. 0.97% of the stock is owned by insiders.

A number of research analysts recently weighed in on the company. Benchmark upped their price target on Seagate Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, February 25th. Barclays upped their price target on Seagate Technology from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, February 25th. Northland Securities boosted their price objective on Seagate Technology from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 25th. Stifel Nicolaus boosted their price objective on Seagate Technology from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Seagate Technology from $58.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, February 25th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $70.46.

STX opened at $78.96 on Thursday. The stock has a market cap of $18.69 billion, a PE ratio of 20.14, a P/E/G ratio of 11.24 and a beta of 1.22. The company has a quick ratio of 1.01, a current ratio of 1.51 and a debt-to-equity ratio of 2.27. Seagate Technology plc has a 52 week low of $43.53 and a 52 week high of $79.86. The business’s fifty day simple moving average is $74.80 and its 200 day simple moving average is $62.37.

Seagate Technology (NASDAQ:STX) last released its earnings results on Wednesday, January 20th. The data storage provider reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.16. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Seagate Technology had a return on equity of 65.10% and a net margin of 10.02%. During the same quarter in the prior year, the firm earned $1.35 earnings per share. As a group, equities analysts anticipate that Seagate Technology plc will post 4.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 7th. Investors of record on Wednesday, March 24th were paid a $0.67 dividend. The ex-dividend date was Tuesday, March 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 3.39%. Seagate Technology’s dividend payout ratio is presently 58.64%.

About Seagate Technology

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

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

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