Seagate Technology PLC (NASDAQ:STX) posted its earnings results on Wednesday. The data storage provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.79 by $0.20. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion.

Seagate Technology PLC (NASDAQ:STX) opened at 35.34 on Wednesday. Seagate Technology PLC has a 52-week low of $18.42 and a 52-week high of $41.83. The company has a 50 day moving average of $36.32 and a 200 day moving average of $29.03. The company has a market capitalization of $10.61 billion, a PE ratio of 43.10 and a beta of 2.50.

Earnings History for Seagate Technology PLC (NASDAQ:STX)

The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Wednesday, September 21st were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 7.13%. The ex-dividend date was Monday, September 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is 307.32%.

In other news, Director Frank Biondi sold 1,251 shares of Seagate Technology PLC stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $32.45, for a total transaction of $40,594.95. Following the transaction, the director now directly owns 6,433 shares of the company’s stock, valued at approximately $208,750.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mark Re sold 12,750 shares of Seagate Technology PLC stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $31.84, for a total value of $405,960.00. Following the transaction, the senior vice president now directly owns 65,520 shares in the company, valued at $2,086,156.80. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tredje AP fonden bought a new position in Seagate Technology PLC during the second quarter worth $146,000. Thrivent Financial for Lutherans boosted its position in Seagate Technology PLC by 12.2% in the second quarter. Thrivent Financial for Lutherans now owns 9,819 shares of the data storage provider’s stock worth $239,000 after buying an additional 1,069 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Seagate Technology PLC by 2.4% in the second quarter. Ameritas Investment Partners Inc. now owns 10,935 shares of the data storage provider’s stock worth $266,000 after buying an additional 261 shares during the last quarter. FIL Ltd boosted its position in Seagate Technology PLC by 8.4% in the second quarter. FIL Ltd now owns 13,980 shares of the data storage provider’s stock worth $341,000 after buying an additional 1,081 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new position in Seagate Technology PLC during the second quarter worth $392,000. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently issued reports on STX shares. RBC Capital Markets restated a “sector perform” rating and issued a $31.00 price target (up previously from $27.00) on shares of Seagate Technology PLC in a research report on Tuesday, August 2nd. Morgan Stanley upgraded shares of Seagate Technology PLC from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $20.00 to $27.00 in a research report on Tuesday, July 12th. Mizuho boosted their price target on shares of Seagate Technology PLC from $23.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Argus restated a “hold” rating on shares of Seagate Technology PLC in a research report on Tuesday, August 16th. Finally, Needham & Company LLC boosted their price target on shares of Seagate Technology PLC from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $38.35.

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.

5 Day Chart for NASDAQ:STX

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