Stevens Capital Management LP increased its stake in Seagate Technology PLC (NASDAQ:STX) by 536.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 148,401 shares of the data storage provider’s stock after purchasing an additional 125,077 shares during the quarter. Stevens Capital Management LP owned approximately 0.05% of Seagate Technology PLC worth $5,751,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in STX. Teachers Advisors LLC raised its holdings in Seagate Technology PLC by 7.5% in the 4th quarter. Teachers Advisors LLC now owns 56,428 shares of the data storage provider’s stock worth $2,154,000 after purchasing an additional 3,936 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Seagate Technology PLC by 2.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,842 shares of the data storage provider’s stock worth $1,003,000 after purchasing an additional 500 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Seagate Technology PLC by 12.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 910,681 shares of the data storage provider’s stock worth $41,828,000 after purchasing an additional 97,352 shares during the period. Karp Capital Management Corp bought a new position in Seagate Technology PLC in the 1st quarter worth $2,737,000. Finally, Sei Investments Co. raised its holdings in Seagate Technology PLC by 47.2% in the 1st quarter. Sei Investments Co. now owns 32,826 shares of the data storage provider’s stock worth $1,507,000 after purchasing an additional 10,522 shares during the period. 90.00% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on STX. BidaskClub cut Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 12th. FBN Securities cut Seagate Technology PLC from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $40.00 to $32.00 in a report on Monday, September 11th. Jefferies Group LLC cut Seagate Technology PLC from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $29.00 in a report on Monday, September 11th. ValuEngine cut Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $35.00 price target on shares of Seagate Technology PLC in a report on Friday, September 1st. Four analysts have rated the stock with a sell rating, twenty-three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $40.48.
Seagate Technology PLC (NASDAQ:STX) opened at 33.55 on Monday. The firm has a 50-day moving average of $32.26 and a 200 day moving average of $40.61. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 13.00 and a beta of 1.69. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings data 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). Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted $0.69 earnings per share. Seagate Technology PLC’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts predict that Seagate Technology PLC will post $3.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be issued a $0.63 dividend. 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 7.51%. Seagate Technology PLC’s payout ratio is 97.67%.
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In other news, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $33.34 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.87% of the stock is currently owned by company insiders.
Seagate Technology PLC Company 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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