Russell Investments Group Ltd. lifted its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 3.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,222 shares of the data storage provider’s stock after purchasing an additional 2,916 shares during the quarter. Russell Investments Group Ltd.’s holdings in Seagate Technology were worth $4,187,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of STX. Virginia Retirement Systems ET AL lifted its position in shares of Seagate Technology by 5,423.9% during the second quarter. Virginia Retirement Systems ET AL now owns 370,100 shares of the data storage provider’s stock worth $17,439,000 after purchasing an additional 363,400 shares in the last quarter. First Trust Advisors LP raised its holdings in Seagate Technology by 44.9% in the second quarter. First Trust Advisors LP now owns 872,237 shares of the data storage provider’s stock valued at $41,100,000 after acquiring an additional 270,141 shares in the last quarter. BlackRock Inc. raised its holdings in Seagate Technology by 1.1% in the first quarter. BlackRock Inc. now owns 19,734,970 shares of the data storage provider’s stock valued at $945,106,000 after acquiring an additional 221,030 shares in the last quarter. Andra AP fonden acquired a new stake in Seagate Technology in the first quarter valued at approximately $8,697,000. Finally, W.E. Donoghue & Co. LLC acquired a new stake in Seagate Technology in the second quarter valued at approximately $6,654,000. 83.74% of the stock is currently owned by institutional investors and hedge funds.
STX stock traded down $0.15 during midday trading on Friday, reaching $56.15. 2,581,568 shares of the company were exchanged, compared to its average volume of 2,794,926. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.52 and a current ratio of 1.95. Seagate Technology PLC has a 1-year low of $35.38 and a 1-year high of $57.01. The stock’s 50-day simple moving average is $48.14 and its 200 day simple moving average is $47.10. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 10.81 and a beta of 1.65.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the company earned $1.62 earnings per share. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. On average, research analysts anticipate that Seagate Technology PLC will post 4.3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.49%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.28%.
STX has been the topic of several analyst reports. Barclays initiated coverage on shares of Seagate Technology in a report on Wednesday, August 7th. They issued an “underweight” rating and a $37.00 target price on the stock. BidaskClub raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price (down previously from $57.00) on shares of Seagate Technology in a report on Monday, August 5th. Cowen reaffirmed a “market perform” rating and issued a $40.00 target price (down previously from $47.00) on shares of Seagate Technology in a report on Monday, August 5th. Finally, KeyCorp set a $58.00 target price on shares of Seagate Technology and gave the company a “hold” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. Seagate Technology currently has an average rating of “Hold” and an average price target of $45.75.
In other news, Director Stephen J. Luczo sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $54.31, for a total transaction of $4,887,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,000 shares of company stock worth $6,814,500. Insiders own 1.00% of the company’s stock.
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.
Further Reading: Sell-Side Analysts
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