Meiji Yasuda Life Insurance Co lowered its position in Seagate Technology PLC (NASDAQ:STX) by 10.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,500 shares of the data storage provider’s stock after selling 970 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Seagate Technology were worth $407,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of STX. First Interstate Bank bought a new stake in shares of Seagate Technology in the 1st quarter worth $31,000. Waratah Capital Advisors Ltd. bought a new stake in shares of Seagate Technology in the 4th quarter worth $60,000. Proffitt & Goodson Inc. bought a new stake in shares of Seagate Technology in the 1st quarter worth $90,000. Investors Research Corp bought a new stake in shares of Seagate Technology in the 1st quarter worth $96,000. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Seagate Technology by 4,150.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,394,728 shares of the data storage provider’s stock worth $140,000 after acquiring an additional 5,267,808 shares in the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.
Shares of Seagate Technology stock opened at $44.24 on Friday. Seagate Technology PLC has a 12-month low of $35.38 and a 12-month high of $59.93. The stock has a market capitalization of $12.08 billion, a PE ratio of 8.03, a PEG ratio of 7.55 and a beta of 1.66. The company has a current ratio of 1.62, a quick ratio of 1.16 and a debt-to-equity ratio of 2.68.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 30th. The data storage provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. Seagate Technology had a net margin of 13.73% and a return on equity of 90.33%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. On average, analysts anticipate that Seagate Technology PLC will post 4.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 19th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date is Tuesday, June 18th. Seagate Technology’s payout ratio is 45.74%.
A number of brokerages recently weighed in on STX. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Friday, April 26th. BidaskClub downgraded shares of Seagate Technology from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Wednesday, May 1st. Argus raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Friday, May 3rd. Finally, Craig Hallum raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Wednesday, May 1st. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $46.75.
In other news, Director Stephen J. Luczo sold 99,999 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $49.33, for a total value of $4,932,950.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
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.
Featured Story: Call Option
Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology PLC (NASDAQ:STX).
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.