Flossbach Von Storch AG lowered its position in shares of Seagate Technology PLC (NASDAQ:STX) by 49.4% during the second quarter, Holdings Channel reports. The firm owned 60,000 shares of the data storage provider’s stock after selling 58,500 shares during the period. Flossbach Von Storch AG’s holdings in Seagate Technology PLC were worth $1,462,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Advisory Services Network LLC raised its stake in Seagate Technology PLC by 30.2% in the second quarter. Advisory Services Network LLC now owns 5,603 shares of the data storage provider’s stock valued at $136,000 after buying an additional 1,300 shares during the last quarter. Cutler Capital Management LLC raised its stake in Seagate Technology PLC by 14.3% in the second quarter. Cutler Capital Management LLC now owns 8,000 shares of the data storage provider’s stock valued at $195,000 after buying an additional 1,000 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Seagate Technology PLC during the first quarter valued at approximately $214,000. Americafirst Capital Management LLC acquired a new stake in Seagate Technology PLC during the second quarter valued at approximately $238,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Seagate Technology PLC during the first quarter valued at approximately $252,000. 83.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Seagate Technology PLC (NASDAQ:STX) traded down 0.44% during midday trading on Tuesday, hitting $38.24. 3,540,335 shares of the stock were exchanged. Seagate Technology PLC has a 12-month low of $18.42 and a 12-month high of $49.50. The firm has a 50 day moving average of $35.01 and a 200 day moving average of $28.85. The firm has a market cap of $11.48 billion, a P/E ratio of 46.63 and a beta of 2.50.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The business earned $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. The company’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. Equities analysts forecast that Seagate Technology PLC will post $3.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date is Monday, September 19th. Seagate Technology PLC’s dividend payout ratio is presently 307.32%.
A number of brokerages have weighed in on STX. Vetr downgraded shares of Seagate Technology PLC from a “strong-buy” rating to a “hold” rating and set a $23.50 price objective for the company. in a research report on Tuesday, June 14th. Brean Capital reiterated a “buy” rating on shares of Seagate Technology PLC in a research report on Wednesday, June 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $24.00 price objective on shares of Seagate Technology PLC in a research report on Friday, June 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Seagate Technology PLC in a research report on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded shares of Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.49.
In related news, CFO David H. Morton, Jr. sold 2,773 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $35.98, for a total value of $99,772.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark Re sold 3,082 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $32.50, for a total transaction of $100,165.00. Following the completion of the sale, the senior vice president now owns 56,623 shares of the company’s stock, valued at $1,840,247.50. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by 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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