Public Employees Retirement Association of Colorado held its position in Seagate Technology PLC (NASDAQ:STX) during the second quarter, Holdings Channel reports. The fund owned 48,974 shares of the data storage provider’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado’s holdings in Seagate Technology PLC were worth $1,898,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of STX. Meridian Wealth Management LLC boosted its stake in Seagate Technology PLC by 7.9% in the second quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock worth $321,000 after buying an additional 604 shares during the period. Kwmg LLC boosted its stake in Seagate Technology PLC by 8.1% in the second quarter. Kwmg LLC now owns 36,491 shares of the data storage provider’s stock worth $1,414,000 after buying an additional 2,721 shares during the period. Parkwood LLC purchased a new stake in Seagate Technology PLC during the second quarter worth approximately $315,000. Smith Salley & Associates boosted its stake in Seagate Technology PLC by 0.7% in the second quarter. Smith Salley & Associates now owns 65,820 shares of the data storage provider’s stock worth $2,551,000 after buying an additional 430 shares during the period. Finally, Contravisory Investment Management Inc. boosted its stake in Seagate Technology PLC by 1,828.0% in the second quarter. Contravisory Investment Management Inc. now owns 105,926 shares of the data storage provider’s stock worth $4,105,000 after buying an additional 100,432 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 31.55 on Friday. The stock has a 50 day moving average price of $37.03 and a 200 day moving average price of $43.02. The stock has a market capitalization of $9.21 billion, a P/E ratio of 12.23 and a beta of 1.69. Seagate Technology PLC has a one year low of $31.33 and a one year high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.34. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The company’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 earned $0.69 earnings per share. Equities analysts forecast that Seagate Technology PLC will post $3.70 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 7.99%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.
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STX has been the subject of a number of analyst reports. Needham & Company LLC upped their price target on 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 reduced their price target on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Zacks Investment Research upgraded Seagate Technology PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Cowen and Company restated a “market perform” rating and issued a $45.00 price target (down previously from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $45.00 price target on shares of Seagate Technology PLC in a research report on Friday, June 9th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology PLC presently has an average rating of “Hold” and an average price target of $42.12.
In other Seagate Technology PLC news, insider Philip G. Brace acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the acquisition, the insider now owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $43.26, for a total value of $131,510.40. Following the completion of the transaction, the chief financial officer now owns 9,063 shares in the company, valued at $392,065.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,456 shares of company stock worth $715,313. 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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