OmniStar Financial Group Inc. decreased its position in shares of Seagate Technology PLC (NASDAQ:STX) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,952 shares of the data storage provider’s stock after selling 840 shares during the period. OmniStar Financial Group Inc.’s holdings in Seagate Technology were worth $912,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. ValueAct Holdings L.P. boosted its position in Seagate Technology by 6.9% during the second quarter. ValueAct Holdings L.P. now owns 31,554,360 shares of the data storage provider’s stock valued at $1,486,841,000 after purchasing an additional 2,034,200 shares during the last quarter. Morgan Stanley lifted its position in shares of Seagate Technology by 40.4% in the second quarter. Morgan Stanley now owns 2,491,729 shares of the data storage provider’s stock worth $117,410,000 after buying an additional 717,007 shares during the last quarter. Virginia Retirement Systems ET AL lifted its position in shares of Seagate Technology by 5,423.9% in the second quarter. Virginia Retirement Systems ET AL now owns 370,100 shares of the data storage provider’s stock worth $17,439,000 after buying an additional 363,400 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Seagate Technology by 44.9% in the second quarter. First Trust Advisors LP now owns 872,237 shares of the data storage provider’s stock worth $41,100,000 after buying an additional 270,141 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Seagate Technology by 1,268.4% in the third quarter. Crossmark Global Holdings Inc. now owns 207,720 shares of the data storage provider’s stock worth $11,173,000 after buying an additional 192,540 shares during the last quarter. 85.15% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the company. Wedbush assumed coverage on Seagate Technology in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $35.00 price target for the company. They noted that the move was a valuation call. KeyCorp set a $58.00 price target on Seagate Technology and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Barclays boosted their price target on Seagate Technology from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Friday, September 20th. Benchmark boosted their price target on Seagate Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, FBN Securities boosted their price target on Seagate Technology from $55.00 to $60.00 in a research report on Thursday, September 19th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Seagate Technology currently has an average rating of “Hold” and a consensus price target of $48.10.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Seagate Technology had a return on equity of 72.07% and a net margin of 19.36%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the firm earned $1.62 EPS. The firm’s revenue was down 16.4% compared to the same quarter last year. On average, research analysts expect that Seagate Technology PLC will post 4.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th were given a dividend of $0.63 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.52 annualized dividend and a dividend yield of 4.68%. Seagate Technology’s dividend payout ratio is presently 52.28%.
In related news, EVP Jeffrey D. Nygaard sold 12,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $53.78, for a total transaction of $645,360.00. Following the transaction, the executive vice president now directly owns 31,985 shares in the company, valued at $1,720,153.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen J. Luczo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $47.37, for a total value of $236,850.00. Following the transaction, the director now owns 14,221 shares in the company, valued at $673,648.77. The disclosure for this sale can be found here. Insiders have sold a total of 137,000 shares of company stock valued at $7,271,160 in the last three months. 1.12% of the stock is owned by insiders.
About Seagate Technology
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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