CIBC Asset Management increased its stake in Seagate Technology Holdings, Inc. (NASDAQ: STX – Get Rating) by 63.0% during the third quarter, according to a recent disclosure to the U.S. Securities and Exchange Commission (SEC). . The fund owns 27,734 shares of the data storage provider after buying an additional 10,716 shares during the quarter. CIBC Asset Management Inc’s Seagate Technology holding was valued at $1,476,000 at the end of the most recent quarter.
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Several other large investors have also bought and sold STX shares recently. Ronald Blue Trust bought a new position in Seagate Technology stock worth about $33,000 in the second quarter. Oakworth Capital bought a new position in Seagate Technology stock worth about $29,000 in the second quarter. Hallmark Capital Management bought a new position in Seagate Technology stock worth about $32,000 in the second quarter. West Branch Capital LLC bought a new position in Seagate Technology stock in the second quarter, worth about $35,000. Finally, Janiczek Wealth Management LLC increased its Seagate Technology stock holding by 286.4% during the second quarter. Janiczek Wealth Management LLC now owns 541 shares of the data storage provider, worth $43,000, after buying an additional 401 shares last quarter. Hedge funds and other institutional investors own 82.69% of the company.
Seagate technology cost performance
STX stock opened Friday at $69.01. The company’s 50-day moving average is $54.73 and its 200-day moving average is $61.67. Seagate Technology Holdings plc had a 12-month low of $47.47 and a 12-month high of $117.03. The company’s current ratio is 1.19, quick ratio is 0.68, and debt-to-equity ratio is 46.44. The company has a market cap of $14.25 billion, a P/E ratio of 24.56, a PEG ratio of 40.64, and a beta of 1.06.
Seagate Technology (NASDAQ: STX – Rated ) last reported quarterly earnings data on Wednesday, January 25th. The data storage provider reported earnings per share (EPS) of $0.16 for the quarter, beating the consensus estimate of $0.11 by $0.05. Seagate Technology had a return on equity of 1,257.13% and a net profit margin of 6.61%. The company’s revenue for the quarter was $1.89 billion, compared with the consensus estimate of $1.83 billion. In the same period last year, the company reported earnings of $2.28 per share. The company’s quarterly revenue fell 39.4% compared to the same period last year. As a whole, equity analysts expect Seagate Technology Holdings plc to post earnings per share of 1.27 for the fiscal year.
Seagate Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6. Investors of record on Wednesday, March 22 will receive a dividend of $0.70 per share. This represents an annualized dividend of $2.80 and a dividend yield of 4.06%. Seagate Technology currently has a dividend payout ratio of 99.64%.
Analyst Rating Changes
A number of stock analysts have recently published reports on the company. UBS upped their price target on Seagate Technology from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday. TheStreet downgraded shares of Seagate Technology from a “b-” rating to a “c” rating in a report on Wednesday, October 26th. Goldman Sachs Group lowered their price target on Seagate Technology from $71.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, October 28th. Morgan Stanley upped their target price on shares of Seagate Technology from $69.00 to $72.00 in a report on Thursday. Finally, Cowen raised their price target on Seagate Technology from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and a consensus price target of $70.92.
About Seagate Technology
Seagate Technology Holdings Plc operates as a holding company engaged in the development, manufacture and distribution of data storage products and electronic 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, storage subsystems and computing solutions.
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