Geode Capital Management LLC Has $130.12 Million Position in Seagate Technology PLC (STX)

Geode Capital Management LLC reduced its position in shares of Seagate Technology PLC (NASDAQ:STX) by 3.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,116,257 shares of the data storage provider’s stock after selling 98,401 shares during the period. Geode Capital Management LLC’s holdings in Seagate Technology were worth $130,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new position in shares of Seagate Technology in the fourth quarter worth about $174,000. Balentine LLC raised its stake in shares of Seagate Technology by 56.8% in the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after acquiring an additional 1,619 shares during the last quarter. Brave Asset Management Inc. bought a new position in shares of Seagate Technology in the fourth quarter worth about $203,000. Advisor Partners LLC bought a new position in shares of Seagate Technology in the fourth quarter worth about $258,000. Finally, New England Research & Management Inc. bought a new position in shares of Seagate Technology in the fourth quarter worth about $205,000. 87.59% of the stock is owned by institutional investors.

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A number of equities analysts have weighed in on STX shares. Wells Fargo & Co started coverage on shares of Seagate Technology in a research note on Tuesday, November 14th. They issued a “market perform” rating and a $38.00 target price for the company. Vetr downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $41.79 target price for the company. in a research note on Thursday, November 23rd. ValuEngine raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. BidaskClub downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Finally, Zacks Investment Research downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $50.60.

In other news, CFO David H. Morton, Jr. sold 35,142 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $55.00, for a total value of $1,932,810.00. Following the completion of the transaction, the chief financial officer now owns 8,540 shares in the company, valued at $469,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David H. Morton, Jr. sold 40,263 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $48.78, for a total transaction of $1,964,029.14. Following the completion of the transaction, the chief financial officer now owns 65,824 shares of the company’s stock, valued at approximately $3,210,894.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 810,048 shares of company stock valued at $43,459,301. Corporate insiders own 0.87% of the company’s stock.

Seagate Technology PLC (NASDAQ:STX) opened at $60.19 on Friday. The stock has a market cap of $16,770.64, a P/E ratio of 14.05, a P/E/G ratio of 0.78 and a beta of 1.84. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.25 and a current ratio of 1.58. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $60.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 earnings per share. equities analysts forecast that Seagate Technology PLC will post 4.87 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Tuesday, March 20th. Seagate Technology’s dividend payout ratio is currently 114.55%.

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Seagate Technology Company Profile

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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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