Victory Capital Management Inc. lifted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating ) by 264.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 547,594 shares of the data storage company’s stock after buying an additional 397,221 shares during the quarter. Victory Capital Management Inc. owned about 0.27% of Seagate Technology worth $29,148,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in STX. Banque Pictet & Cie SA grew its holdings in Seagate Technology by 298.3% in the second quarter. Banque Pictet & Cie SA now owns 27,370 shares of the data storage provider’s stock worth $1,955,000 after buying an additional 20,498 shares during the period. Kentucky Retirement Systems raised its stake in Seagate Technology by 14.3% in the second quarter. Kentucky Retirement Systems now owns 14,670 shares of the data storage provider’s stock valued at $1,048,000 after purchasing an additional 1,834 shares during the last quarter. LPL Financial LLC purchased a new stake in Seagate Technology in the second quarter valued at $11,170,000. Simmons Bank raised its stake in Seagate Technology by 3.7% in the third quarter. Simmons Bank now owns 5,577 shares of the data storage provider’s stock valued at $297,000 after buying an additional 198 shares in the last quarter. Finally, SPC Financial Inc. raised its stake in Seagate Technology by 4.7% in the third quarter. SPC Financial Inc. now owns 4,425 shares of the data storage provider’s stock valued at $236,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Goldman Sachs Group cut their target price on Seagate Technology from $71.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 28th. Northland Securities cut their target price on Seagate Technology from $88.00 to $70.00 in a research note on Thursday, October 27th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $54.00 to $69.00 in a research note on Wednesday, January 18th. Mizuho cut their target price on Seagate Technology from $75.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, October 27th. Finally, Credit Suisse Group cut their price objective on shares of Seagate Technology from $65.00 to $60.00 and set the stock to a “buy” rating in a research note on Thursday, October 27th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a “Hold” rating and a consensus price target of $70.83.
Seagate Technology Sales Up 2.0%
NASDAQ:STX opened at $59.34 on Monday. The 50-day moving average is $54.01 and the 200-day moving average is $61.79. Seagate Technology Holdings plc has a 52-week low of $47.47 and a 52-week high of $117.03. The company has a market cap of $12.25 billion, a P/E ratio of 11.41, a P/E/G ratio of 38.74 and a beta of 1.06. The company has a debt ratio of 46.44, a quick ratio of 0.68 and a current ratio of 1.19.
Seagate Technology (NASDAQ:STX – Get Rating ) last released its quarterly earnings data on Wednesday, October 26. The data storage provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 and ($0.15). The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.11 billion. Seagate Technology had a return of 716.97% with a margin of 10.89%. The company’s revenue for the quarter was down 34.7% year-over-year. During the same period last year, the company posted $2.27 EPS. On average, analysts forecast that Seagate Technology Holdings plc will post 1.27 EPS for the current fiscal year.
Seagate Technology Announces Shares
The company also announced a third quarterly dividend, which was issued on Thursday, January 5th. Investors of record on Wednesday, December 21st were issued a $0.70 dividend. The most recent trading day for this stock was Tuesday, December 20. The company paid $2.80 per share during the last period and the annual yield was 4.72 %. The lowest price of shares of Seagate Technology Company Limited on February 2019 was 53.85 %.
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Seagate Technology Holdings Plc operates as a company engaged in the design, manufacture, and distribution of data storage products and data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, subsystems storage and computing solutions.
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