Verition Fund Management LLC purchased a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,539 shares of the data storage provider's stock, valued at approximately $318,000.
Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Seagate Technology by 7.8% in the first quarter. JPMorgan Chase & Co. now owns 12,957,187 shares of the data storage provider's stock worth $1,164,852,000 after acquiring an additional 939,313 shares during the last quarter. State Street Corp lifted its holdings in Seagate Technology by 2.5% in the fourth quarter. State Street Corp now owns 9,367,384 shares of the data storage provider's stock worth $1,064,798,000 after acquiring an additional 230,667 shares during the last quarter. Sanders Capital LLC lifted its holdings in Seagate Technology by 31.1% in the first quarter. Sanders Capital LLC now owns 5,240,802 shares of the data storage provider's stock worth $517,577,000 after acquiring an additional 1,242,350 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Seagate Technology by 41.1% in the first quarter. Bank of New York Mellon Corp now owns 3,898,164 shares of the data storage provider's stock valued at $350,445,000 after purchasing an additional 1,134,751 shares during the period. Finally, Norges Bank acquired a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $221,348,000. Institutional investors own 83.07% of the company's stock.
Get Seagate Technology alerts:Seagate Technology Trading Down 1.8 %
Shares of NASDAQ:STX opened at $57.78 on Monday. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 9.65 and a beta of 1.11. Seagate Technology Holdings plc has a 1-year low of $56.88 and a 1-year high of $117.67. The company has a debt-to-equity ratio of 46.44, a quick ratio of 0.69 and a current ratio of 1.13. The company has a 50 day moving average price of $73.52 and a 200 day moving average price of $79.05.
Seagate Technology (NASDAQ:STX – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The data storage provider reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.74 by ($0.33). Seagate Technology had a return on equity of 412.90% and a net margin of 14.14%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the business posted $1.92 EPS. On average, research analysts anticipate that Seagate Technology Holdings plc will post 4.95 EPS for the current fiscal year.Seagate Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Tuesday, September 20th. Seagate Technology's dividend payout ratio is 38.15%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on STX shares. Barclays dropped their price target on shares of Seagate Technology from $70.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 1st. Summit Insights lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Thursday, July 21st. Northland Securities dropped their price target on shares of Seagate Technology from $105.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, September 1st. The Goldman Sachs Group dropped their price target on shares of Seagate Technology from $106.00 to $80.00 in a research note on Friday, July 15th. Finally, BNP Paribas initiated coverage on shares of Seagate Technology in a research note on Tuesday, September 13th. They issued a "neutral" rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of "Hold" and an average target price of $80.48.
Seagate Technology Profile
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Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.
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