Retirement Systems of Alabama raised its stake in Seagate Technology PLC (NASDAQ:STX) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 144,003 shares of the data storage provider’s stock after buying an additional 1,322 shares during the period. Retirement Systems of Alabama’s holdings in Seagate Technology PLC were worth $5,580,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Seagate Technology PLC by 3.8% in the first quarter. Vanguard Group Inc. now owns 31,119,928 shares of the data storage provider’s stock valued at $1,429,338,000 after buying an additional 1,132,336 shares in the last quarter. BlackRock Inc. boosted its position in Seagate Technology PLC by 3,179.5% in the first quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock valued at $842,196,000 after buying an additional 17,777,387 shares in the last quarter. State Street Corp boosted its position in Seagate Technology PLC by 3.4% in the first quarter. State Street Corp now owns 11,253,471 shares of the data storage provider’s stock valued at $516,900,000 after buying an additional 374,218 shares in the last quarter. Geode Capital Management LLC boosted its position in Seagate Technology PLC by 25.1% in the first quarter. Geode Capital Management LLC now owns 3,206,093 shares of the data storage provider’s stock valued at $147,067,000 after buying an additional 642,845 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Seagate Technology PLC by 355.8% in the first quarter. Prudential Financial Inc. now owns 2,603,387 shares of the data storage provider’s stock valued at $119,573,000 after buying an additional 2,032,271 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
Seagate Technology PLC (STX) opened at 31.51 on Friday. The firm has a 50-day moving average price of $35.73 and a 200-day moving average price of $42.71. Seagate Technology PLC has a 12 month low of $31.33 and a 12 month high of $50.96. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 12.21 and a beta of 1.69.
Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing the 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 firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. On average, equities analysts anticipate that Seagate Technology PLC will post $3.69 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 annualized dividend and a dividend yield of 8.00%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 97.67%.
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Several equities analysts recently weighed in on STX shares. Citigroup Inc. cut their price objective on Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, July 18th. UBS AG reaffirmed a “sell” rating and issued a $28.00 price target (down previously from $34.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Barclays PLC cut Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $49.00 to $40.00 in a report on Thursday, July 13th. Jefferies Group LLC cut their price target on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, April 28th. Finally, Longbow Research cut Seagate Technology PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology PLC currently has a consensus rating of “Hold” and a consensus price target of $42.12.
In related news, CFO David H. Morton, Jr. sold 3,040 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 9,063 shares of the company’s stock, valued at $392,065.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the purchase, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The disclosure for this purchase can be found here. 1.50% of the stock is currently 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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