Stratos Wealth Partners LTD. raised its position in Seagate Technology PLC (NASDAQ:STX) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,060 shares of the data storage provider’s stock after buying an additional 416 shares during the period. Stratos Wealth Partners LTD.’s holdings in Seagate Technology PLC were worth $274,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in STX. Teachers Advisors LLC raised its stake in shares of Seagate Technology PLC by 7.5% in the fourth quarter. Teachers Advisors LLC now owns 56,428 shares of the data storage provider’s stock worth $2,154,000 after buying an additional 3,936 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Seagate Technology PLC by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 255,679 shares of the data storage provider’s stock worth $11,743,000 after buying an additional 7,862 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Seagate Technology PLC by 3.3% in the first quarter. Raymond James Trust N.A. now owns 10,122 shares of the data storage provider’s stock worth $465,000 after buying an additional 327 shares during the last quarter. Legacy Private Trust Co. acquired a new stake in shares of Seagate Technology PLC during the first quarter worth approximately $214,000. Finally, Bank of Montreal Can raised its stake in shares of Seagate Technology PLC by 4.1% in the first quarter. Bank of Montreal Can now owns 1,609,469 shares of the data storage provider’s stock worth $73,923,000 after buying an additional 63,627 shares during the last quarter. 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. Seagate Technology PLC has a one year low of $31.33 and a one year high of $50.96. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 12.23 and a beta of 1.69. The stock’s 50 day moving average price is $37.03 and its 200 day moving average price is $43.02.
Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.34. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. Seagate Technology PLC’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, equities analysts anticipate that Seagate Technology PLC will post $3.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.99%. Seagate Technology PLC’s dividend payout ratio (DPR) is currently 97.67%.
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A number of equities research analysts have commented on STX shares. Cowen and Company restated 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 decreased their price objective on Seagate Technology PLC from $50.00 to $45.00 and set a “sector perform” rating for the company in a research report on Thursday, April 27th. Needham & Company LLC raised their price objective 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. 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, Jefferies Group LLC decreased their price objective 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. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.12.
In related news, insider Philip G. Brace acquired 1,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were purchased at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the purchase, the insider now directly owns 62,855 shares in the company, valued at $2,095,585.70. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mark Re sold 9,607 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $43.47, for a total value of $417,616.29. Following the transaction, the senior vice president now owns 40,470 shares in the company, valued at approximately $1,759,230.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,456 shares of company stock worth $715,313. 1.50% of the stock is owned by corporate 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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