Afam Capital Inc. trimmed its position in Seagate Technology (NASDAQ:STX) by 35.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,626 shares of the data storage providers stock after selling 76,084 shares during the quarter. Afam Capital Inc.s holdings in Seagate Technology were worth $8,054,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Avestar Capital LLC bought a new position in Seagate Technology in the 4th quarter worth approximately $100,000. Certified Advisory Corp boosted its stake in Seagate Technology by 436.8% in the 1st quarter. Certified Advisory Corp now owns 1,723 shares of the data storage providers stock worth $100,000 after purchasing an additional 1,402 shares during the period. Advisors Preferred LLC bought a new position in Seagate Technology in the 1st quarter worth approximately $103,000. SeaCrest Wealth Management LLC bought a new position in Seagate Technology in the 4th quarter worth approximately $174,000. Finally, Sandy Spring Bank boosted its stake in Seagate Technology by 1,676.3% in the 1st quarter. Sandy Spring Bank now owns 3,073 shares of the data storage providers stock worth $180,000 after purchasing an additional 2,900 shares during the period. 82.74% of the stock is owned by institutional investors.
Several research analysts have weighed in on the company. Vetr downgraded Seagate Technology from a strong-buy rating to a buy rating and set a $56.12 target price for the company. in a research report on Wednesday, February 14th. Stifel Nicolaus reiterated a hold rating and set a $49.00 target price on shares of Seagate Technology in a research report on Thursday, February 22nd. UBS Group set a $43.00 target price on Seagate Technology and gave the company a sell rating in a research report on Tuesday, March 6th. Citigroup increased their target price on Seagate Technology from $56.00 to $60.00 and gave the company a neutral rating in a research report on Friday, March 9th. Finally, Loop Capital increased their target price on Seagate Technology from $65.00 to $70.00 and gave the company a buy rating in a research report on Thursday, March 22nd. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $54.01.
STX stock traded down $0.51 during midday trading on Wednesday, reaching $58.67. The companys stock had a trading volume of 3,192,017 shares, compared to its average volume of 4,387,584. The company has a quick ratio of 1.39, a current ratio of 1.72 and a debt-to-equity ratio of 3.17. Seagate Technology has a 1 year low of $30.60 and a 1 year high of $62.70. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.57 and a beta of 1.63.
Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, May 1st. The data storage provider reported $1.46 earnings per share for the quarter, topping analysts consensus estimates of $1.36 by $0.10. Seagate Technology had a return on equity of 105.43% and a net margin of 7.76%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm posted $1.10 earnings per share. The businesss revenue was up 4.8% compared to the same quarter last year. research analysts expect that Seagate Technology will post 5.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Wednesday, June 20th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, June 19th. This represents a $2.52 dividend on an annualized basis and a yield of 4.30%. Seagate Technologys payout ratio is 61.17%.
In other news, insider Stephen J. Luczo sold 5,681 shares of the firms stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $60.00, for a total transaction of $340,860.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stephen J. Luczo sold 4,620 shares of the firms stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $60.00, for a total value of $277,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,487 shares of company stock worth $8,018,746. Insiders own 0.87% of the companys stock.
This article provided by NewsEdge.