Assetmark Inc. boosted its stake in Seagate Technology PLC (NASDAQ:STX) by 4,722.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,606 shares of the data storage provider’s stock after acquiring an additional 99,499 shares during the quarter. Assetmark Inc.’s holdings in Seagate Technology PLC were worth $3,937,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new stake in Seagate Technology PLC during the 2nd quarter worth about $150,000. First Quadrant L P CA bought a new stake in Seagate Technology PLC during the 2nd quarter worth about $153,000. Global X Management Co. LLC lifted its position in Seagate Technology PLC by 29.2% during the 1st quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after buying an additional 789 shares in the last quarter. Private Advisory Group LLC bought a new stake in Seagate Technology PLC during the 1st quarter worth about $206,000. Finally, Amalgamated Bank bought a new stake in Seagate Technology PLC during the 1st quarter worth about $215,000. 90.15% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Philip G. Brace purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the acquisition, the insider now directly owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.
Several brokerages have commented on STX. Zacks Investment Research raised shares of Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a “neutral” rating and issued a $38.00 target price (down from $45.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $37.00 target price (down from $40.00) on shares of Seagate Technology PLC in a report on Thursday, July 13th. ValuEngine raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Mizuho dropped their target price on shares of Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Seagate Technology PLC presently has a consensus rating of “Hold” and an average price target of $40.72.
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Seagate Technology PLC (NASDAQ STX) traded down 0.06% during midday trading on Wednesday, hitting $33.73. 718,286 shares of the stock traded hands. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 13.07 and a beta of 1.72. The stock’s 50-day moving average price is $32.64 and its 200 day moving average price is $38.81. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS 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 for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts predict that Seagate Technology PLC will post $3.65 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a yield of 7.47%. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.
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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