Rhumbline Advisers Decreases Position in Seagate Technology PLC (NASDAQ:STX)

Rhumbline Advisers cut its stake in Seagate Technology PLC (NASDAQ:STX) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 283,071 shares of the data storage provider’s stock after selling 3,274 shares during the period. Rhumbline Advisers owned 0.10% of Seagate Technology worth $9,389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STX. WFG Advisors LP boosted its position in Seagate Technology by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after acquiring an additional 3,638 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Seagate Technology during the 2nd quarter worth about $150,000. First Quadrant L P CA purchased a new stake in shares of Seagate Technology during the 2nd quarter worth about $153,000. SpiderRock Advisors LLC raised its stake in shares of Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after purchasing an additional 5,347 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of Seagate Technology by 87.7% during the 2nd quarter. Global X Management Co. LLC now owns 6,550 shares of the data storage provider’s stock worth $254,000 after purchasing an additional 3,060 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.

In other Seagate Technology news, insider Jeffrey D. Nygaard acquired 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was purchased at an average cost of $37.38 per share, with a total value of $186,900.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edward J. Zander sold 15,089 shares of Seagate Technology stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,981 shares of company stock worth $1,656,761. 0.87% of the stock is currently owned by company insiders.

STX has been the topic of several recent analyst reports. Cowen reaffirmed a “hold” rating and issued a $36.00 price target on shares of Seagate Technology in a research report on Friday, October 13th. BidaskClub downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Jefferies Group set a $29.00 price objective on Seagate Technology and gave the stock a “hold” rating in a report on Sunday, October 15th. Mizuho reissued a “hold” rating and set a $36.00 price objective on shares of Seagate Technology in a report on Monday, October 9th. Finally, Barclays boosted their price target on Seagate Technology from $29.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology presently has a consensus rating of “Hold” and an average target price of $41.53.

Shares of Seagate Technology PLC (STX) opened at $39.05 on Wednesday. The stock has a market capitalization of $11,341.29, a P/E ratio of 9.58, a P/E/G ratio of 0.52 and a beta of 1.67. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the business posted $0.99 EPS. The company’s revenue was down 5.9% compared to the same quarter last year. analysts forecast that Seagate Technology PLC will post 3.99 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend is Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is 95.09%.

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Seagate Technology 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.

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

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