IHT Wealth Management LLC bought a new position in shares of Seagate Technology PLC (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,251 shares of the data storage provider’s stock, valued at approximately $229,000.
A number of other hedge funds also recently made changes to their positions in STX. Invesco Ltd. boosted its position in Seagate Technology by 5.2% in the 2nd quarter. Invesco Ltd. now owns 2,036,970 shares of the data storage provider’s stock valued at $95,982,000 after buying an additional 101,002 shares during the period. Elkfork Partners LLC raised its position in Seagate Technology by 20.8% in the 2nd quarter. Elkfork Partners LLC now owns 16,744 shares of the data storage provider’s stock valued at $789,000 after purchasing an additional 2,884 shares in the last quarter. Buckingham Asset Management LLC boosted its stake in shares of Seagate Technology by 80.4% in the 2nd quarter. Buckingham Asset Management LLC now owns 10,316 shares of the data storage provider’s stock valued at $486,000 after buying an additional 4,598 shares during the period. Glen Harbor Capital Management LLC grew its position in shares of Seagate Technology by 20.8% during the second quarter. Glen Harbor Capital Management LLC now owns 13,156 shares of the data storage provider’s stock worth $620,000 after buying an additional 2,266 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Seagate Technology by 13.5% during the second quarter. Advisory Services Network LLC now owns 16,021 shares of the data storage provider’s stock worth $755,000 after buying an additional 1,903 shares in the last quarter. 84.36% of the stock is owned by institutional investors.
Several analysts recently weighed in on STX shares. Susquehanna Bancshares reduced their target price on shares of Seagate Technology from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Monday, September 23rd. Stifel Nicolaus assumed coverage on shares of Seagate Technology in a report on Monday. They set a “hold” rating and a $62.00 price target for the company. Craig Hallum downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 price objective on the stock. in a research report on Friday, September 20th. Morgan Stanley raised their price objective on shares of Seagate Technology from $61.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Finally, FBN Securities lifted their price objective on shares of Seagate Technology from $55.00 to $60.00 in a research report on Thursday, September 19th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $49.62.
STX stock opened at $58.21 on Wednesday. The company has a fifty day moving average price of $57.89 and a 200 day moving average price of $50.51. Seagate Technology PLC has a 12 month low of $35.38 and a 12 month high of $60.56. The company has a market cap of $15.30 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 10.18 and a beta of 1.62. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.58 and a quick ratio of 1.17.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Friday, November 1st. The data storage provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.03. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Seagate Technology had a net margin of 17.66% and a return on equity of 61.26%. Seagate Technology’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period last year, the firm posted $1.70 EPS. As a group, analysts anticipate that Seagate Technology PLC will post 4.84 earnings per share for the current year.
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.
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