Spirit of America Management Corp NY Has $169,000 Stake in Seagate Technology PLC (STX)
Spirit of America Management Corp NY lessened its stake in Seagate Technology PLC (NASDAQ:STX) by 40.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,050 shares of the data storage provider’s stock after selling 2,700 shares during the quarter. Spirit of America Management Corp NY’s holdings in Seagate Technology were worth $169,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Assetmark Inc. raised its holdings in Seagate Technology by 43.5% in the 3rd quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock worth $4,835,000 after purchasing an additional 44,171 shares during the period. Cetera Investment Advisers acquired a new position in Seagate Technology in the 2nd quarter worth about $344,000. Iat Reinsurance Co. LTD. acquired a new position in Seagate Technology in the 3rd quarter worth about $12,455,000. Cibc World Markets Corp raised its holdings in Seagate Technology by 1,268.5% in the 2nd quarter. Cibc World Markets Corp now owns 444,022 shares of the data storage provider’s stock worth $17,206,000 after purchasing an additional 411,575 shares during the period. Finally, SeaBridge Investment Advisors LLC acquired a new position in Seagate Technology in the 3rd quarter worth about $3,873,000. 91.45% of the stock is owned by institutional investors and hedge funds.
STX has been the subject of a number of analyst reports. Zacks Investment Research cut Seagate Technology from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 20th. Craig Hallum raised Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Monday, October 2nd. ValuEngine upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Mizuho reiterated a “hold” rating and set a $36.00 price objective on shares of Seagate Technology in a research note on Monday, October 9th. Finally, Cowen reiterated a “hold” rating and set a $36.00 price objective on shares of Seagate Technology in a research note on Friday, October 13th. Four equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Seagate Technology presently has a consensus rating of “Hold” and a consensus target price of $43.39.
Shares of Seagate Technology PLC (STX) opened at $52.14 on Thursday. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. The stock has a market capitalization of $15,090.00, a P/E ratio of 19.75, a PEG ratio of 0.76 and a beta of 1.68. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $52.42.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. sell-side analysts predict that Seagate Technology PLC will post 4.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.83%. Seagate Technology’s dividend payout ratio (DPR) is presently 95.45%.
Seagate Technology 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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