JPMorgan Chase & Co. increased its holdings in Seagate Technology PLC (NASDAQ:STX) by 74.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,650,262 shares of the data storage provider’s stock after acquiring an additional 703,822 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.57% of Seagate Technology PLC worth $63,947,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in STX. Teachers Advisors LLC lifted 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 acquiring an additional 3,936 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Seagate Technology PLC in the first quarter worth about $209,000. State Board of Administration of Florida Retirement System raised its stake in Seagate Technology PLC by 2.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,842 shares of the data storage provider’s stock valued at $1,003,000 after buying an additional 500 shares in the last quarter. American Century Companies Inc. raised its stake in Seagate Technology PLC by 2.0% during the first quarter. American Century Companies Inc. now owns 388,778 shares of the data storage provider’s stock valued at $17,857,000 after buying an additional 7,808 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Seagate Technology PLC by 105.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 27,761 shares of the data storage provider’s stock valued at $1,334,000 after buying an additional 14,269 shares in the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 30.95 on Tuesday. The stock’s 50 day moving average price is $32.50 and its 200-day moving average price is $41.01. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $50.96. The firm has a market cap of $9.03 billion, a P/E ratio of 12.00 and a beta of 1.69.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. Equities research analysts anticipate that Seagate Technology PLC will post $3.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 8.14%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is presently 97.67%.
In other Seagate Technology PLC news, insider Philip G. Brace bought 1,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was purchased at an average price of $33.34 per share, with a total value of $33,340.00. Following the acquisition, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.
Several analysts have issued reports on STX shares. Susquehanna Bancshares Inc restated a “neutral” rating and set a $44.00 price objective (up previously from $43.00) on shares of Seagate Technology PLC in a research note on Thursday, June 1st. Royal Bank Of Canada restated a “hold” rating and set a $45.00 price objective on shares of Seagate Technology PLC in a research note on Friday, June 9th. Aegis started coverage on Seagate Technology PLC in a research note on Tuesday, June 13th. They set a “buy” rating and a $50.00 price objective on the stock. Evercore ISI started coverage on Seagate Technology PLC in a research note on Friday, June 16th. They set an “in-line” rating and a $48.00 price objective on the stock. Finally, Barclays PLC cut Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $49.00 to $40.00 in a research note on Thursday, July 13th. Five analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued 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 a consensus target price of $40.06.
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Seagate Technology PLC 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.
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