State of Alaska Department of Revenue boosted its holdings in Seagate Technology PLC (NASDAQ:STX) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,269 shares of the data storage provider’s stock after acquiring an additional 3,853 shares during the quarter. State of Alaska Department of Revenue’s holdings in Seagate Technology were worth $1,575,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in shares of Seagate Technology by 567.0% in the 1st quarter. Allianz Asset Management GmbH now owns 104,689 shares of the data storage provider’s stock worth $6,127,000 after purchasing an additional 88,993 shares in the last quarter. UBS Group AG increased its position in shares of Seagate Technology by 22.8% during the first quarter. UBS Group AG now owns 272,855 shares of the data storage provider’s stock worth $15,968,000 after acquiring an additional 50,745 shares during the period. Mariner LLC purchased a new position in Seagate Technology during the first quarter valued at approximately $204,000. Millennium Management LLC increased its holdings in Seagate Technology by 231.2% during the first quarter. Millennium Management LLC now owns 277,082 shares of the data storage provider’s stock valued at $16,215,000 after buying an additional 193,420 shares during the period. Finally, CIBC World Markets Inc. lifted its stake in shares of Seagate Technology by 3,315.6% during the first quarter. CIBC World Markets Inc. now owns 192,984 shares of the data storage provider’s stock worth $11,293,000 after buying an additional 187,334 shares during the period. 83.57% of the stock is currently owned by institutional investors and hedge funds.
STX stock traded down $2.30 during mid-day trading on Friday, reaching $43.03. 7,510,518 shares of the stock traded hands, compared to its average volume of 4,841,510. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. Seagate Technology PLC has a 52-week low of $36.69 and a 52-week high of $62.70. The firm has a market capitalization of $13.11 billion, a PE ratio of 7.81, a P/E/G ratio of 0.69 and a beta of 1.71.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 19th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, December 18th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.86%. Seagate Technology’s dividend payout ratio is 45.74%.
STX has been the subject of a number of research reports. BidaskClub raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Summit Redstone upgraded shares of Seagate Technology to a “hold” rating in a report on Friday, November 2nd. Maxim Group dropped their price objective on shares of Seagate Technology from $54.00 to $51.00 and set a “hold” rating on the stock in a research report on Wednesday. BMO Capital Markets downgraded shares of Seagate Technology to a “market perform” rating and set a $45.00 target price on the stock. in a research report on Monday, November 5th. Finally, Robert W. Baird reduced their target price on shares of Seagate Technology from $56.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Seagate Technology currently has an average rating of “Hold” and a consensus price target of $50.91.
In other Seagate Technology news, Director Holdings L.P. Valueact bought 509,492 shares of the stock in a transaction dated Monday, August 13th. The stock was bought at an average cost of $51.11 per share, for a total transaction of $26,040,136.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Valueact Capital Master Fund, bought 2,090,783 shares of Seagate Technology stock in a transaction on Monday, August 13th. The shares were bought at an average price of $50.94 per share, for a total transaction of $106,504,486.02. The disclosure for this purchase can be found here. In the last quarter, insiders bought 4,055,357 shares of company stock worth $209,385,069 and sold 46,086 shares worth $2,529,660. 1.00% of the stock is owned by corporate insiders.
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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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