Alps Advisors Inc. Purchases 305,646 Shares of Seagate Technology PLC (STX)
Alps Advisors Inc. boosted its position in Seagate Technology PLC (NASDAQ:STX) by 27.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,416,142 shares of the data storage provider’s stock after purchasing an additional 305,646 shares during the quarter. Alps Advisors Inc. owned approximately 0.49% of Seagate Technology PLC worth $46,973,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. WFG Advisors LP grew its stake in shares of Seagate Technology PLC by 16,536.4% during the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after acquiring an additional 3,638 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Seagate Technology PLC during the second quarter worth about $150,000. First Quadrant L P CA purchased a new stake in shares of Seagate Technology PLC during the second quarter worth about $153,000. SpiderRock Advisors LLC grew its stake in shares of Seagate Technology PLC by 2,419.5% during the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after acquiring an additional 5,347 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of Seagate Technology PLC during the first quarter worth about $215,000. Institutional investors and hedge funds own 89.82% of the company’s stock.
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In other Seagate Technology PLC news, Director Dambisa F. Moyo sold 8,715 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total value of $339,972.15. Following the completion of the sale, the director now directly owns 3,316 shares in the company, valued at approximately $129,357.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David H. Morton, Jr. sold 7,909 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $40.00, for a total value of $316,360.00. Following the completion of the sale, the chief financial officer now owns 25,561 shares of the company’s stock, valued at $1,022,440. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,027 shares of company stock valued at $855,109. 0.87% of the stock is owned by company insiders.
A number of brokerages have recently weighed in on STX. Vetr lowered Seagate Technology PLC from a “strong-buy” rating to a “buy” rating and set a $41.39 price target on the stock. in a research note on Tuesday, October 31st. BMO Capital Markets restated a “hold” rating and set a $40.00 price target on shares of Seagate Technology PLC in a research note on Monday, October 23rd. Guggenheim restated a “hold” rating on shares of Seagate Technology PLC in a research note on Monday, October 23rd. BidaskClub upgraded Seagate Technology PLC from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 25th. Finally, Argus reiterated a “hold” rating and issued a $40.00 target price on shares of Seagate Technology PLC in a research report on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $41.29.
Seagate Technology PLC (NASDAQ:STX) traded up $0.58 during midday trading on Friday, reaching $37.99. The company had a trading volume of 3,008,360 shares, compared to its average volume of 6,302,307. Seagate Technology PLC has a 1 year low of $30.60 and a 1 year high of $50.96. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. The firm has a market cap of $10,823.41, a P/E ratio of 9.15, a P/E/G ratio of 0.50 and a beta of 1.68.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the company earned $0.99 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. research analysts predict that Seagate Technology PLC will post 3.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 6.63%. The ex-dividend date is Tuesday, December 19th. Seagate Technology PLC’s payout ratio is currently 95.09%.
Seagate Technology PLC Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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