Seagate Technology PLC (STX) Position Raised by Neuberger Berman Group LLC

Neuberger Berman Group LLC boosted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 12.0% during the first quarter, Holdings Channel reports. The firm owned 48,066 shares of the data storage provider’s stock after buying an additional 5,131 shares during the period. Neuberger Berman Group LLC’s holdings in Seagate Technology PLC were worth $2,208,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ledyard National Bank raised its position in shares of Seagate Technology PLC by 1,318.3% in the first quarter. Ledyard National Bank now owns 4,255 shares of the data storage provider’s stock valued at $195,000 after buying an additional 3,955 shares during the period. First Republic Investment Management Inc. raised its position in shares of Seagate Technology PLC by 0.5% in the fourth quarter. First Republic Investment Management Inc. now owns 47,261 shares of the data storage provider’s stock valued at $1,804,000 after buying an additional 235 shares during the period. Suntrust Banks Inc. raised its position in shares of Seagate Technology PLC by 124.8% in the first quarter. Suntrust Banks Inc. now owns 55,237 shares of the data storage provider’s stock valued at $2,535,000 after buying an additional 30,668 shares during the period. Franklin Resources Inc. raised its position in shares of Seagate Technology PLC by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 16,984 shares of the data storage provider’s stock valued at $648,000 after buying an additional 743 shares during the period. Finally, Ropes Wealth Advisors LLC raised its position in shares of Seagate Technology PLC by 104.1% in the first quarter. Ropes Wealth Advisors LLC now owns 6,302 shares of the data storage provider’s stock valued at $289,000 after buying an additional 3,215 shares during the period. Hedge funds and other institutional investors own 87.23% of the company’s stock.

Institutional Ownership by Quarter for Seagate Technology PLC (NASDAQ:STX)

Shares of Seagate Technology PLC (NASDAQ STX) traded down 0.79% on Tuesday, reaching $41.50. The company’s stock had a trading volume of 255,019 shares. The firm has a 50-day moving average price of $42.57 and a 200 day moving average price of $43.52. The firm has a market capitalization of $12.31 billion, a PE ratio of 17.08 and a beta of 1.71. Seagate Technology PLC has a one year low of $20.77 and a one year high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.04. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.71 billion. Seagate Technology PLC had a return on equity of 79.83% and a net margin of 6.61%. Seagate Technology PLC’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, analysts anticipate that Seagate Technology PLC will post $4.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.02%. Seagate Technology PLC’s dividend payout ratio is currently 103.70%.

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STX has been the topic of several recent research reports. Cowen and Company reiterated a “market perform” rating and set a $45.00 price objective (down from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $45.00 price objective on shares of Seagate Technology PLC in a research report on Monday, March 13th. Vetr upgraded Seagate Technology PLC from a “buy” rating to a “strong-buy” rating and set a $50.83 price objective on the stock in a research report on Tuesday, March 21st. Zacks Investment Research lowered Seagate Technology PLC from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 27th. Finally, BTIG Research reiterated a “buy” rating and set a $55.00 price objective on shares of Seagate Technology PLC in a research report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $43.05.

In other Seagate Technology PLC news, SVP Mark Re sold 9,607 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $43.47, for a total transaction of $417,616.29. Following the completion of the sale, the senior vice president now owns 40,470 shares in the company, valued at $1,759,230.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $43.26, for a total value of $131,510.40. Following the sale, the chief financial officer now owns 9,063 shares of the company’s stock, valued at approximately $392,065.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,456 shares of company stock valued at $5,715,313. 1.50% of the stock is owned by company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:STX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology PLC (NASDAQ:STX).

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