Advisory Services Network LLC grew its holdings in Seagate Technology PLC (NASDAQ:STX) by 228.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,118 shares of the data storage provider’s stock after acquiring an additional 9,815 shares during the period. Advisory Services Network LLC’s holdings in Seagate Technology were worth $676,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. First Interstate Bank bought a new stake in shares of Seagate Technology during the 1st quarter worth $31,000. Meridian Wealth Management LLC acquired a new position in shares of Seagate Technology in the 1st quarter valued at $62,000. Proffitt & Goodson Inc. acquired a new position in shares of Seagate Technology in the 1st quarter valued at $90,000. Investors Research Corp acquired a new stake in shares of Seagate Technology during the 1st quarter worth about $96,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Seagate Technology during the 1st quarter worth about $114,000. 85.39% of the stock is owned by institutional investors.
Shares of Seagate Technology stock traded up $0.96 during trading hours on Friday, hitting $47.62. 3,693,769 shares of the company’s stock traded hands, compared to its average volume of 2,493,962. Seagate Technology PLC has a 12-month low of $35.38 and a 12-month high of $59.66. The stock has a market capitalization of $12.92 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68. The stock’s fifty day moving average is $45.18. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.62 and a quick ratio of 1.16.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, June 19th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, June 18th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.29%. Seagate Technology’s dividend payout ratio is 45.74%.
STX has been the topic of several recent analyst reports. Cleveland Research began coverage on shares of Western Digital in a research note on Friday, June 7th. They set a “hold” rating on the stock. Zacks Investment Research cut shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a research report on Friday, April 26th. Benchmark raised shares of from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Craig Hallum boosted their target price on shares of 1-800-Flowers.Com from $26.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their target price on shares of Valener from C$22.00 to C$26.00 and gave the company a “sector perform” rating in a research report on Thursday, March 28th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $46.06.
In other Seagate Technology news, Director Stephen J. Luczo sold 10,000 shares of Seagate Technology stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $47.00, for a total value of $470,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen J. Luczo sold 99,999 shares of Seagate Technology stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $49.33, for a total value of $4,932,950.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,999 shares of company stock worth $5,640,201. 1.00% of the stock is currently owned by insiders.
Seagate Technology 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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