Cornerstone Financial Partners LLC lowered its position in shares of Seagate Technology PLC (NASDAQ:STX) by 0.1% during the first quarter, Holdings Channel reports. The fund owned 47,291 shares of the data storage provider’s stock after selling 36 shares during the period. Cornerstone Financial Partners LLC’s holdings in Seagate Technology PLC were worth $2,168,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in STX. Atria Investments LLC increased its position in Seagate Technology PLC by 24.7% in the first quarter. Atria Investments LLC now owns 55,553 shares of the data storage provider’s stock worth $2,552,000 after buying an additional 11,006 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of Seagate Technology PLC by 12.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,726 shares of the data storage provider’s stock worth $125,000 after buying an additional 300 shares during the last quarter. Visionary Asset Management Inc. boosted its stake in shares of Seagate Technology PLC by 1.3% in the first quarter. Visionary Asset Management Inc. now owns 89,162 shares of the data storage provider’s stock worth $4,095,000 after buying an additional 1,137 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Seagate Technology PLC by 4.1% in the first quarter. Bank of Montreal Can now owns 1,609,469 shares of the data storage provider’s stock worth $73,923,000 after buying an additional 63,627 shares during the last quarter. Finally, Legacy Private Trust Co. bought a new stake in shares of Seagate Technology PLC during the first quarter worth approximately $214,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.
Seagate Technology PLC (NASDAQ:STX) traded up 1.1133% on Monday, reaching $48.7063. The company’s stock had a trading volume of 339,665 shares. The company has a 50 day moving average of $46.98 and a 200 day moving average of $41.13. Seagate Technology PLC has a 52 week low of $18.42 and a 52 week high of $49.79. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 28.4167 and a beta of 1.93.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, January 24th. The data storage provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.30. Seagate Technology PLC had a return on equity of 62.25% and a net margin of 4.69%. The company earned $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $0.82 EPS. Seagate Technology PLC’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that Seagate Technology PLC will post $4.50 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 22nd were paid a dividend of $0.63 per share. The ex-dividend date was Monday, March 20th. This represents a $2.52 annualized dividend and a yield of 5.23%. Seagate Technology PLC’s dividend payout ratio (DPR) is currently 147.37%.
A number of analysts have commented on the company. Susquehanna Bancshares Inc restated a “neutral” rating on shares of Seagate Technology PLC in a research report on Wednesday, April 12th. Vetr upgraded Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.83 price target for the company in a research report on Monday, March 6th. Longbow Research upgraded Seagate Technology PLC from a “neutral” rating to a “buy” rating and increased their target price for the stock from $18.42 to $55.00 in a research report on Tuesday, April 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of Seagate Technology PLC in a research report on Monday, March 13th. Finally, BTIG Research reiterated a “buy” rating and set a $55.00 target price on shares of Seagate Technology PLC in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.38.
In other news, CFO David H. Morton, Jr. sold 6,197 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $47.34, for a total value of $293,365.98. Following the completion of the sale, the chief financial officer now directly owns 18,300 shares in the company, valued at $866,322. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William D. Mosley sold 38,581 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $47.28, for a total value of $1,824,109.68. Following the completion of the sale, the chief operating officer now owns 191,546 shares of the company’s stock, valued at $9,056,294.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
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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