Advisory Services Network LLC boosted its position in Seagate Technology PLC (NASDAQ:STX) by 30.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,603 shares of the data storage provider’s stock after buying an additional 1,300 shares during the period. Advisory Services Network LLC’s holdings in Seagate Technology PLC were worth $136,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Cutler Capital Management LLC increased its position 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 period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Seagate Technology PLC during the first quarter valued at $214,000. Americafirst Capital Management LLC acquired a new position in Seagate Technology PLC during the second quarter valued at $238,000. Jacobs Levy Equity Management Inc. acquired a new position in Seagate Technology PLC during the first quarter valued at $252,000. Finally, First Midwest Bank Trust Division increased its position in Seagate Technology PLC by 71.9% in the second quarter. First Midwest Bank Trust Division now owns 10,459 shares of the data storage provider’s stock valued at $255,000 after buying an additional 4,375 shares during the period. Institutional investors own 83.86% of the company’s stock.
Seagate Technology PLC (NASDAQ:STX) traded down 7.56% during midday trading on Tuesday, reaching $35.10. The company’s stock had a trading volume of 14,403,722 shares. The firm has a market cap of $10.53 billion, a P/E ratio of 42.80 and a beta of 2.50. The firm has a 50 day moving average price of $35.86 and a 200-day moving average price of $28.94. Seagate Technology PLC has a 52 week low of $18.42 and a 52 week high of $49.43.
Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.09. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. The business earned $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the business posted $0.77 EPS. Seagate Technology PLC’s revenue was down 9.3% on a year-over-year basis. On average, analysts forecast that Seagate Technology PLC will post $3.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st will be issued a $0.63 dividend. The ex-dividend date is Monday, September 19th. This represents a $2.52 annualized dividend and a yield of 7.18%. Seagate Technology PLC’s dividend payout ratio is currently 307.32%.
Several equities analysts recently weighed in on STX shares. Vetr downgraded Seagate Technology PLC from a “strong-buy” rating to a “hold” rating and set a $23.50 target price on the stock. 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 set a $24.00 target price 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 Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $37.26.
In other Seagate Technology PLC news, CFO David H. Morton, Jr. sold 1,716 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total value of $62,050.56. Following the transaction, the chief financial officer now directly owns 20,782 shares of the company’s stock, valued at approximately $751,477.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Biondi sold 1,251 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $32.45, for a total transaction of $40,594.95. Following the completion of the transaction, the director now directly owns 6,433 shares in the company, valued at $208,750.85. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company 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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