Seagate Technology PLC (NASDAQ:STX) insider Jeffrey D. Nygaard purchased 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was purchased at an average cost of $37.38 per share, for a total transaction of $186,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 annualized dividend and a dividend yield of 6.85%. Seagate Technology PLC’s dividend payout ratio is presently 95.09%.
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A number of analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $35.00 price target (down from $42.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Craig Hallum lowered Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Citigroup Inc. lifted their price objective on Seagate Technology PLC from $34.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 24th. UBS AG lifted their price objective on Seagate Technology PLC from $28.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, October 24th. Finally, BidaskClub downgraded Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $41.29.
Several institutional investors have recently made changes to their positions in STX. Teachers Advisors LLC grew its stake in shares of Seagate Technology PLC by 3.7% during the first quarter. Teachers Advisors LLC now owns 58,527 shares of the data storage provider’s stock valued at $2,688,000 after acquiring an additional 2,099 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Seagate Technology PLC by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,163,153 shares of the data storage provider’s stock valued at $53,432,000 after acquiring an additional 40,927 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Seagate Technology PLC during the first quarter valued at about $215,000. AQR Capital Management LLC grew its stake in shares of Seagate Technology PLC by 16.0% during the first quarter. AQR Capital Management LLC now owns 321,638 shares of the data storage provider’s stock valued at $14,773,000 after acquiring an additional 44,283 shares in the last quarter. Finally, Private Advisory Group LLC acquired a new stake in shares of Seagate Technology PLC during the first quarter valued at about $206,000. Institutional investors own 90.32% of the company’s stock.
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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