Essex Savings Bank bought a new position in shares of Seagate Technology PLC (NASDAQ:STX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,826 shares of the data storage provider’s stock, valued at approximately $70,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in Seagate Technology by 13.8% during the fourth quarter. Creative Planning now owns 55,391 shares of the data storage provider’s stock worth $2,138,000 after acquiring an additional 6,714 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Seagate Technology by 1.1% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 36,971 shares of the data storage provider’s stock valued at $1,427,000 after purchasing an additional 400 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Seagate Technology by 4.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 15,035 shares of the data storage provider’s stock valued at $580,000 after purchasing an additional 670 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Seagate Technology in the 4th quarter valued at $456,000. Finally, Exane Derivatives boosted its position in shares of Seagate Technology by 37.6% in the 4th quarter. Exane Derivatives now owns 87,762 shares of the data storage provider’s stock valued at $3,386,000 after purchasing an additional 23,982 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on STX. ValuEngine upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research report on Monday. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Tuesday. Maxim Group reiterated a “hold” rating and issued a $49.00 price target (down previously from $51.00) on shares of Seagate Technology in a research report on Tuesday. Craig Hallum reiterated a “hold” rating and issued a $41.00 price target (down previously from $47.00) on shares of Seagate Technology in a research report on Tuesday. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $45.00 price target (down previously from $50.00) on shares of Seagate Technology in a research report on Tuesday. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have assigned a buy rating to the company. Seagate Technology presently has an average rating of “Hold” and a consensus target price of $47.01.
Shares of NASDAQ STX opened at $45.14 on Wednesday. Seagate Technology PLC has a one year low of $35.38 and a one year high of $62.70. The stock has a market cap of $13.04 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.73 and a beta of 1.61. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.42 and a quick ratio of 1.07.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, February 4th. The data storage provider reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Seagate Technology had a return on equity of 110.77% and a net margin of 14.77%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the company posted $1.48 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts expect that Seagate Technology PLC will post 5.07 EPS for the current year.
In other news, Director Holdings L.P. Valueact purchased 5,415 shares of Seagate Technology stock in a transaction dated Friday, November 23rd. The stock was acquired at an average cost of $41.99 per share, for a total transaction of $227,375.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James J. Murphy sold 13,660 shares of Seagate Technology stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $42.53, for a total value of $580,959.80. The disclosure for this sale can be found here. Insiders have acquired a total of 1,519,295 shares of company stock valued at $62,991,691 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
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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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