IFP Advisors Inc reduced its stake in Seagate Technology PLC (NASDAQ:STX) by 30.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,338 shares of the data storage provider’s stock after selling 6,602 shares during the period. IFP Advisors Inc’s holdings in Seagate Technology PLC were worth $594,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in STX. Perkins Capital Management Inc. bought a new stake in Seagate Technology PLC during the first quarter valued at approximately $981,000. Everence Capital Management Inc. bought a new stake in Seagate Technology PLC during the first quarter valued at approximately $226,000. Affinity Wealth Management bought a new stake in Seagate Technology PLC during the first quarter valued at approximately $393,000. Berkshire Asset Management LLC PA raised its stake in Seagate Technology PLC by 4.2% in the first quarter. Berkshire Asset Management LLC PA now owns 8,267 shares of the data storage provider’s stock valued at $380,000 after buying an additional 336 shares in the last quarter. Finally, Juncture Wealth Strategies LLC raised its stake in Seagate Technology PLC by 33.6% in the first quarter. Juncture Wealth Strategies LLC now owns 14,700 shares of the data storage provider’s stock valued at $675,000 after buying an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ STX) opened at 32.29 on Friday. Seagate Technology PLC has a 12 month low of $31.35 and a 12 month high of $50.96. The stock’s 50 day moving average price is $36.75 and its 200 day moving average price is $43.00. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 12.52 and a beta of 1.69.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 EPS. Equities research analysts predict that Seagate Technology PLC will post $3.70 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 7.80%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.
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Several brokerages have recently weighed in on STX. Cowen and Company reaffirmed a “market perform” rating and set a $45.00 target price (down from $46.00) on shares of Seagate Technology PLC in a research note on Wednesday, April 26th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $44.00 target price (up from $43.00) on shares of Seagate Technology PLC in a research note on Thursday, June 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $45.00 target price on shares of Seagate Technology PLC in a research note on Friday, June 9th. Jefferies Group LLC reduced their target price on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price (down from $46.00) on shares of Seagate Technology PLC in a research note on Saturday, April 29th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.12.
In other Seagate Technology PLC news, Director Chong Sup Park sold 3,809 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $43.63, for a total transaction of $166,186.67. Following the sale, the director now owns 11,753 shares in the company, valued at $512,783.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark Re sold 9,607 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $43.47, for a total value of $417,616.29. Following the sale, the senior vice president now owns 40,470 shares in the company, valued at approximately $1,759,230.90. The disclosure for this sale can be found here. Insiders sold 16,456 shares of company stock valued at $715,313 in the last three months. 1.50% of the stock is currently owned by company insiders.
Seagate Technology PLC Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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