MML Investors Services LLC lifted its holdings in Seagate Technology PLC (NASDAQ:STX) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,227 shares of the data storage provider’s stock after purchasing an additional 1,290 shares during the period. MML Investors Services LLC’s holdings in Seagate Technology were worth $637,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank increased its position in shares of Seagate Technology by 13.7% in the fourth quarter. Toronto Dominion Bank now owns 124,536 shares of the data storage provider’s stock worth $5,210,000 after acquiring an additional 14,969 shares in the last quarter. Assetmark Inc. increased its position in shares of Seagate Technology by 43.5% in the third quarter. Assetmark Inc. now owns 145,777 shares of the data storage provider’s stock worth $4,835,000 after acquiring an additional 44,171 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Seagate Technology by 12.3% in the fourth quarter. Eagle Asset Management Inc. now owns 887,990 shares of the data storage provider’s stock worth $37,517,000 after acquiring an additional 97,072 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new position in shares of Seagate Technology in the fourth quarter worth approximately $346,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Seagate Technology in the fourth quarter worth approximately $420,000. 88.84% of the stock is currently owned by institutional investors.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at $60.09 on Friday. The company has a debt-to-equity ratio of 4.07, a current ratio of 1.58 and a quick ratio of 1.25. The stock has a market cap of $17,069.71, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 0.79 and a beta of 1.84. Seagate Technology PLC has a one year low of $30.60 and a one year high of $61.19.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, March 20th. Seagate Technology’s payout ratio is 114.55%.
In other news, insider Stephen J. Luczo sold 341,738 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total value of $18,795,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chong Sup Park sold 4,026 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.22, for a total transaction of $218,289.72. Following the completion of the sale, the director now owns 8,715 shares of the company’s stock, valued at $472,527.30. The disclosure for this sale can be found here. Insiders sold 810,048 shares of company stock valued at $43,459,301 over the last 90 days. 0.87% of the stock is owned by corporate insiders.
Several analysts recently commented on STX shares. BidaskClub cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Mizuho raised their price target on shares of Seagate Technology from $39.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Craig Hallum restated a “buy” rating and set a $56.00 price target (up from $50.00) on shares of Seagate Technology in a report on Tuesday, January 9th. Cowen restated a “market perform” rating and set a $47.00 price target (up from $39.00) on shares of Seagate Technology in a report on Monday, January 8th. Finally, Royal Bank of Canada raised their price target on shares of Seagate Technology to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $50.60.
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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.
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