Belpointe Asset Management LLC purchased a new stake in Seagate Technology PLC (NASDAQ:STX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,186 shares of the data storage provider’s stock, valued at approximately $504,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sei Investments Co. raised its stake in Seagate Technology by 191.3% in the second quarter. Sei Investments Co. now owns 95,618 shares of the data storage provider’s stock worth $3,706,000 after buying an additional 62,792 shares in the last quarter. Retirement Systems of Alabama raised its stake in Seagate Technology by 0.9% in the second quarter. Retirement Systems of Alabama now owns 144,003 shares of the data storage provider’s stock worth $5,580,000 after buying an additional 1,322 shares in the last quarter. Global X Management Co. LLC raised its stake in Seagate Technology by 87.7% in the second quarter. Global X Management Co. LLC now owns 6,550 shares of the data storage provider’s stock worth $254,000 after buying an additional 3,060 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Seagate Technology by 5.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,067,976 shares of the data storage provider’s stock worth $41,385,000 after buying an additional 54,479 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Seagate Technology by 10.5% in the second quarter. Rhumbline Advisers now owns 286,345 shares of the data storage provider’s stock worth $11,096,000 after buying an additional 27,135 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

A number of equities analysts recently commented on STX shares. BidaskClub downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, October 26th. Vetr raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating and set a $41.39 price objective for the company in a research note on Monday, November 6th. Argus reissued a “hold” rating and issued a $40.00 price objective on shares of Seagate Technology in a research note on Tuesday, October 24th. Finally, Guggenheim reissued a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Four analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $41.53.

Seagate Technology PLC (NASDAQ:STX) opened at $41.94 on Friday. The stock has a market capitalization of $12,130.00, a price-to-earnings ratio of 10.30, a PEG ratio of 0.56 and a beta of 1.67. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. equities research analysts anticipate that Seagate Technology PLC will post 3.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend is Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 95.45%.

In other news, Director Edward J. Zander sold 15,089 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $38.79, for a total transaction of $585,302.31. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey D. Nygaard acquired 5,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were bought at an average cost of $37.38 per share, for a total transaction of $186,900.00. The disclosure for this purchase can be found here. Insiders have sold 42,481 shares of company stock worth $1,655,011 over the last three months. Corporate insiders own 0.87% of the company’s stock.

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About Seagate Technology

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.

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

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