State of Tennessee Treasury Department Grows Position in Seagate Technology PLC (NASDAQ:STX)

State of Tennessee Treasury Department boosted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,225 shares of the data storage provider’s stock after purchasing an additional 14,968 shares during the period. State of Tennessee Treasury Department’s holdings in Seagate Technology were worth $7,808,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI purchased a new stake in shares of Seagate Technology in the 3rd quarter valued at $26,000. Quadrant Capital Group LLC boosted its holdings in shares of Seagate Technology by 346.3% in the 4th quarter. Quadrant Capital Group LLC now owns 540 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 419 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Seagate Technology by 1,146.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 561 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 516 shares during the last quarter. Gradient Investments LLC boosted its holdings in shares of Seagate Technology by 195.5% in the 4th quarter. Gradient Investments LLC now owns 585 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 387 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of Seagate Technology in the 4th quarter valued at $36,000. 85.33% of the stock is currently owned by institutional investors.

In related news, Director Stephen J. Luczo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $59.26, for a total transaction of $296,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen J. Luczo sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $59.78, for a total transaction of $2,989,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,226 shares of company stock valued at $5,685,632. 1.12% of the stock is owned by company insiders.

Several analysts have recently commented on the stock. Cfra upped their price objective on shares of Seagate Technology from $55.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, February 5th. Wells Fargo & Co upped their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the company an “in-line” rating in a report on Wednesday, February 5th. Zacks Investment Research downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a report on Thursday, January 9th. ValuEngine downgraded shares of Seagate Technology from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, Bank of America upped their price objective on shares of Seagate Technology from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Monday, November 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $56.10.

Shares of NASDAQ STX traded down $1.81 during mid-day trading on Monday, reaching $53.99. The company’s stock had a trading volume of 3,451,425 shares, compared to its average volume of 2,811,633. The stock has a 50-day moving average of $59.02 and a two-hundred day moving average of $55.36. The stock has a market capitalization of $14.09 billion, a P/E ratio of 8.75, a P/E/G ratio of 8.81 and a beta of 1.56. The company has a debt-to-equity ratio of 2.26, a quick ratio of 1.11 and a current ratio of 1.54. Seagate Technology PLC has a 1-year low of $41.63 and a 1-year high of $64.17.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, February 4th. The data storage provider reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.03. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a net margin of 17.03% and a return on equity of 58.19%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. Analysts predict that Seagate Technology PLC will post 5.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Tuesday, March 24th. Seagate Technology’s payout ratio is currently 53.94%.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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

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