Asset Management One Co. Ltd. increased its stake in Seagate Technology PLC (NASDAQ:STX) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,909 shares of the data storage provider’s stock after acquiring an additional 2,669 shares during the period. Asset Management One Co. Ltd. owned approximately 0.07% of Seagate Technology worth $9,186,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of STX. Parallel Advisors LLC grew its position in Seagate Technology by 14.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,934 shares of the data storage provider’s stock worth $91,000 after purchasing an additional 244 shares during the last quarter. Front Row Advisors LLC raised its stake in shares of Seagate Technology by 91.0% in the first quarter. Front Row Advisors LLC now owns 573 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 273 shares during the last quarter. World Asset Management Inc grew its position in shares of Seagate Technology by 1.2% during the 2nd quarter. World Asset Management Inc now owns 23,625 shares of the data storage provider’s stock worth $1,113,000 after buying an additional 290 shares during the period. CWM LLC grew its position in shares of Seagate Technology by 61.3% during the 2nd quarter. CWM LLC now owns 789 shares of the data storage provider’s stock worth $37,000 after buying an additional 300 shares during the period. Finally, LS Investment Advisors LLC grew its position in shares of Seagate Technology by 3.7% during the 2nd quarter. LS Investment Advisors LLC now owns 8,751 shares of the data storage provider’s stock worth $412,000 after buying an additional 315 shares during the period. Institutional investors and hedge funds own 85.15% of the company’s stock.
Shares of STX stock traded up $0.91 during trading hours on Friday, hitting $53.81. 2,161,854 shares of the company were exchanged, compared to its average volume of 3,294,739. The firm has a market cap of $13.78 billion, a P/E ratio of 11.16, a P/E/G ratio of 9.31 and a beta of 1.64. Seagate Technology PLC has a fifty-two week low of $35.38 and a fifty-two week high of $57.20. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.52 and a current ratio of 1.95. The company has a 50 day simple moving average of $52.40 and a two-hundred day simple moving average of $48.02.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Friday, August 2nd. The data storage provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the firm posted $1.62 EPS. Seagate Technology’s revenue was down 16.4% compared to the same quarter last year. As a group, sell-side analysts expect that Seagate Technology PLC will post 4.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Tuesday, September 24th. Seagate Technology’s payout ratio is currently 52.28%.
STX has been the subject of a number of analyst reports. ValuEngine cut shares of Seagate Technology from a “hold” rating to a “sell” rating in a report on Wednesday. Goldman Sachs Group set a $37.00 price objective on shares of Seagate Technology and gave the company a “sell” rating in a report on Sunday, July 21st. Craig Hallum downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research note on Friday, September 20th. Cowen upped their price objective on shares of Seagate Technology from $40.00 to $51.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. Finally, KeyCorp set a $58.00 target price on shares of Seagate Technology and gave the stock a “hold” rating in a report on Tuesday, September 10th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Seagate Technology presently has an average rating of “Hold” and an average price target of $48.10.
In other news, Director Stephen J. Luczo sold 5,000 shares of Seagate Technology stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $47.21, for a total transaction of $236,050.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 90,000 shares of Seagate Technology stock in a transaction on Friday, September 6th. The stock was sold at an average price of $54.31, for a total value of $4,887,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 137,000 shares of company stock valued at $7,271,160. 1.12% of the stock is currently owned by insiders.
Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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