Retirement Systems of Alabama raised its position in shares of Seagate Technology PLC (NASDAQ:STX) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,170 shares of the data storage provider’s stock after buying an additional 236 shares during the period. Retirement Systems of Alabama’s holdings in Seagate Technology PLC were worth $3,707,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Seagate Technology PLC during the first quarter valued at about $214,000. Americafirst Capital Management LLC purchased a new position in Seagate Technology PLC during the second quarter valued at about $238,000. Jacobs Levy Equity Management Inc. purchased a new position in Seagate Technology PLC during the first quarter valued at about $252,000. First Niagara Bank purchased a new position in Seagate Technology PLC during the second quarter valued at about $262,000. Finally, Oak Associates Ltd. OH purchased a new position in Seagate Technology PLC during the first quarter valued at about $266,000. 83.93% of the stock is owned by institutional investors.
Seagate Technology PLC (NASDAQ:STX) traded down 0.43% during midday trading on Monday, hitting $35.01. The company had a trading volume of 4,548,281 shares. Seagate Technology PLC has a one year low of $18.42 and a one year high of $41.83. The company has a market cap of $10.51 billion, a P/E ratio of 42.70 and a beta of 2.50. The company’s 50 day moving average is $36.28 and its 200-day moving average is $29.02.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, August 2nd. The data storage provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.09. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Seagate Technology PLC had a return on equity of 38.98% and a net margin of 2.22%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, equities analysts predict that Seagate Technology PLC will post $3.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 15th. Stockholders of record on Wednesday, September 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend was Monday, September 19th. Seagate Technology PLC’s dividend payout ratio is 307.32%.
STX has been the subject of several research reports. Craig Hallum lifted their price target on Seagate Technology PLC from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 7th. Zacks Investment Research raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, October 5th. Bank of America Corp. reissued a “sell” rating and issued a $28.00 target price on shares of Seagate Technology PLC in a research note on Tuesday, September 13th. Vetr raised shares of Seagate Technology PLC from a “strong sell” rating to a “sell” rating and set a $31.33 target price for the company in a research note on Tuesday, September 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Seagate Technology PLC from $34.00 to $40.00 and gave the company a “sector perform” rating in a research note on Monday, October 3rd. One research analyst has rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.35.
In other Seagate Technology PLC news, CFO David H. Morton, Jr. sold 2,773 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $35.98, for a total value of $99,772.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David H. Morton, Jr. sold 1,716 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total value of $62,050.56. Following the completion of the sale, the chief financial officer now directly owns 20,782 shares in the company, valued at approximately $751,477.12. The disclosure for this sale can be found here. Insiders own 1.50% 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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