BerganKDV Wealth Management LLC reduced its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 16,294 shares of the data storage provider’s stock after selling 920 shares during the period. BerganKDV Wealth Management LLC’s holdings in Seagate Technology PLC were worth $631,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. boosted its stake in Seagate Technology PLC by 12.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,726 shares of the data storage provider’s stock valued at $125,000 after buying an additional 300 shares in the last quarter. Global X Management Co. LLC boosted its stake in Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares in the last quarter. Ledyard National Bank boosted its stake in 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 in the last quarter. Sigma Investment Counselors Inc. bought a new stake in Seagate Technology PLC during the first quarter valued at approximately $201,000. Finally, Private Advisory Group LLC bought a new stake in Seagate Technology PLC during the first quarter valued at approximately $206,000. 86.60% of the stock is owned by institutional investors.
Seagate Technology PLC (STX) traded down 1.09% during midday trading on Monday, hitting $39.07. 3,804,202 shares of the stock traded hands. The stock’s 50-day moving average price is $42.18 and its 200 day moving average price is $43.56. Seagate Technology PLC has a 52 week low of $28.30 and a 52 week high of $50.96. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 16.08 and a beta of 1.74.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Wednesday, April 26th. The data storage provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.04. Seagate Technology PLC had a net margin of 6.61% and a return on equity of 79.83%. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the business posted $0.22 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Seagate Technology PLC will post $4.45 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st were issued a dividend of $0.63 per share. The ex-dividend date was Monday, June 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.45%. Seagate Technology PLC’s dividend payout ratio is currently 103.70%.
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STX has been the topic of several research reports. Vetr raised shares of 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. Needham & Company LLC boosted their price target on shares of Seagate Technology PLC from $55.00 to $57.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 27th. Jefferies Group LLC cut their price target on shares of Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Cowen and Company reissued a “market perform” rating and set a $45.00 price target (down from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $45.00 price target on shares of Seagate Technology PLC in a research report on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $43.03.
In related news, CEO Stephen J. Luczo sold 100,000 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $50.00, for a total transaction of $5,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 27,188 shares in the company, valued at approximately $1,359,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chong Sup Park sold 3,809 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $43.63, for a total transaction of $166,186.67. Following the sale, the director now owns 11,753 shares of the company’s stock, valued at $512,783.39. The disclosure for this sale can be found here. Insiders have sold a total of 116,456 shares of company stock valued at $5,715,313 over the last quarter. 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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