Groesbeck Investment Management Corp NJ purchased a new position in shares of Seagate Technology PLC (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the data storage provider’s stock, valued at approximately $474,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC acquired a new position in Seagate Technology during the 2nd quarter worth $124,000. Partners Capital Investment Group LLP acquired a new position in Seagate Technology during the 2nd quarter worth $136,000. First Hawaiian Bank acquired a new position in Seagate Technology during the 3rd quarter worth $139,000. Qube Research & Technologies Ltd acquired a new position in Seagate Technology during the 2nd quarter worth $146,000. Finally, Mariner LLC acquired a new position in Seagate Technology during the 1st quarter worth $204,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ STX traded down $0.32 during midday trading on Thursday, hitting $43.80. The company’s stock had a trading volume of 62,035 shares, compared to its average volume of 3,928,255. Seagate Technology PLC has a 1-year low of $33.85 and a 1-year high of $62.70. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.02 and a current ratio of 1.35. The firm has a market capitalization of $13.63 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.61 and a beta of 1.70.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 19th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend was Tuesday, September 18th. Seagate Technology’s payout ratio is 45.74%.
Several research analysts have weighed in on STX shares. Goldman Sachs Group set a $39.00 price objective on shares of Seagate Technology and gave the stock a “sell” rating in a report on Wednesday, September 12th. Royal Bank of Canada reissued a “hold” rating and set a $62.00 price objective on shares of Seagate Technology in a report on Monday, July 30th. ValuEngine lowered shares of Seagate Technology from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. BidaskClub raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research raised shares of Seagate Technology from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $54.29.
In other Seagate Technology news, insider Stephen J. Luczo sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $55.40, for a total transaction of $1,939,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James J. Murphy sold 509 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $56.60, for a total transaction of $28,809.40. Following the transaction, the executive vice president now directly owns 37,693 shares of the company’s stock, valued at $2,133,423.80. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 6,207,648 shares of company stock valued at $322,103,805 and have sold 46,086 shares valued at $2,529,660. Insiders own 1.00% of the company’s stock.
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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