Valeo Financial Advisors LLC Acquires 721 Shares of Seagate Technology PLC (NASDAQ:STX)

Valeo Financial Advisors LLC boosted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 231.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,033 shares of the data storage provider’s stock after acquiring an additional 721 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Seagate Technology were worth $56,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. ValueAct Holdings L.P. raised its position in shares of Seagate Technology by 6.9% in the 2nd quarter. ValueAct Holdings L.P. now owns 31,554,360 shares of the data storage provider’s stock worth $1,486,841,000 after acquiring an additional 2,034,200 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Seagate Technology by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,857,336 shares of the data storage provider’s stock worth $134,637,000 after buying an additional 94,917 shares during the last quarter. Morgan Stanley grew its stake in shares of Seagate Technology by 40.4% in the 2nd quarter. Morgan Stanley now owns 2,491,729 shares of the data storage provider’s stock worth $117,410,000 after buying an additional 717,007 shares during the last quarter. Invesco Ltd. grew its stake in shares of Seagate Technology by 5.2% in the 2nd quarter. Invesco Ltd. now owns 2,036,970 shares of the data storage provider’s stock worth $95,982,000 after buying an additional 101,002 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Seagate Technology by 8.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,893,201 shares of the data storage provider’s stock worth $89,208,000 after buying an additional 152,200 shares during the last quarter. Institutional investors own 85.20% of the company’s stock.

Shares of STX stock traded up $0.67 during trading hours on Friday, hitting $58.79. The stock had a trading volume of 1,544,300 shares, compared to its average volume of 3,032,618. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 10.06 and a beta of 1.63. The stock’s 50-day moving average price is $54.94 and its two-hundred day moving average price is $49.07. 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 PLC has a one year low of $35.38 and a one year high of $58.80.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Friday, November 1st. The data storage provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.03. The business 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%. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.70 earnings per share. As a group, equities research analysts predict that Seagate Technology PLC will post 4.84 earnings per share for the current fiscal year.

Several analysts recently weighed in on the company. Wells Fargo & Co upped their price target on Seagate Technology from $45.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, September 13th. Cowen increased their target price on Seagate Technology from $51.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 4th. FBN Securities increased their target price on Seagate Technology from $55.00 to $60.00 in a research note on Thursday, September 19th. Morgan Stanley set a $61.00 target price on Seagate Technology and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Craig Hallum downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research note on Friday, September 20th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $49.10.

In other Seagate Technology news, Director Stephen J. Luczo sold 100,000 shares of Seagate Technology stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.03, for a total transaction of $5,803,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James J. Murphy sold 123,607 shares of Seagate Technology stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $57.74, for a total transaction of $7,137,068.18. Following the transaction, the executive vice president now owns 98,377 shares of the company’s stock, valued at approximately $5,680,287.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 443,969 shares of company stock worth $25,101,220. 1.12% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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