Retirement Systems of Alabama raised its position in shares of Seagate Technology PLC (NASDAQ:STX) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,003 shares of the data storage provider’s stock after buying an additional 1,322 shares during the period. Retirement Systems of Alabama’s holdings in Seagate Technology PLC were worth $5,580,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in STX. Meridian Wealth Management LLC increased its position in shares of Seagate Technology PLC by 7.9% in the second quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock worth $321,000 after buying an additional 604 shares during the period. Ledyard National Bank increased its stake in Seagate Technology PLC by 1,318.3% in the first quarter. Ledyard National Bank now owns 4,255 shares of the data storage provider’s stock valued at $195,000 after buying an additional 3,955 shares during the last quarter. Sii Investments Inc. WI increased its stake in Seagate Technology PLC by 4.3% in the first quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock valued at $295,000 after buying an additional 269 shares during the last quarter. Global X Management Co. LLC increased its stake in Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Seagate Technology PLC by 124.8% in the first quarter. Suntrust Banks Inc. now owns 55,237 shares of the data storage provider’s stock valued at $2,535,000 after buying an additional 30,668 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.
Shares of Seagate Technology PLC (NASDAQ STX) opened at 31.51 on Friday. The company’s 50 day moving average price is $35.73 and its 200-day moving average price is $42.71. Seagate Technology PLC has a 1-year low of $31.33 and a 1-year high of $50.96. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 12.21 and a beta of 1.69.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.34. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. Equities analysts expect that Seagate Technology PLC will post $3.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 97.67%.
Several research firms have recently weighed in on STX. Needham & Company LLC increased their price objective on Seagate Technology PLC from $55.00 to $57.00 and gave the company a “strong-buy” rating in a report on Thursday, April 27th. BMO Capital Markets reissued a “market perform” rating and issued a $35.00 price objective (down from $42.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Craig Hallum downgraded Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price objective on shares of Seagate Technology PLC in a report on Friday, July 14th. Finally, Cowen and Company decreased their price objective on Seagate Technology PLC from $45.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $42.12.
In other news, CFO David H. Morton, Jr. sold 3,040 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $43.26, for a total transaction of $131,510.40. Following the sale, the chief financial officer now directly owns 9,063 shares of the company’s stock, valued at $392,065.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip G. Brace bought 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were bought at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the transaction, the insider now directly owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The disclosure for this purchase can be found here. 1.50% of the stock is owned by insiders.
About Seagate Technology PLC
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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