Dimensional Fund Advisors LP Has $53.43 Million Stake in Seagate Technology PLC (NASDAQ:STX)
Dimensional Fund Advisors LP boosted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,163,153 shares of the data storage provider’s stock after buying an additional 40,927 shares during the period. Dimensional Fund Advisors LP owned about 0.39% of Seagate Technology PLC worth $53,432,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in STX. Vanguard Group Inc. raised its position in Seagate Technology PLC by 3.8% in the first quarter. Vanguard Group Inc. now owns 31,119,928 shares of the data storage provider’s stock valued at $1,429,338,000 after buying an additional 1,132,336 shares during the period. Geode Capital Management LLC raised its position in shares of Seagate Technology PLC by 25.1% in the first quarter. Geode Capital Management LLC now owns 3,206,093 shares of the data storage provider’s stock worth $147,067,000 after buying an additional 642,845 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Seagate Technology PLC by 355.8% in the first quarter. Prudential Financial Inc. now owns 2,603,387 shares of the data storage provider’s stock worth $119,573,000 after buying an additional 2,032,271 shares during the last quarter. First Trust Advisors LP raised its position in shares of Seagate Technology PLC by 12.9% in the first quarter. First Trust Advisors LP now owns 1,737,263 shares of the data storage provider’s stock worth $79,792,000 after buying an additional 198,175 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Seagate Technology PLC by 4.1% in the first quarter. Bank of Montreal Can now owns 1,609,469 shares of the data storage provider’s stock worth $73,923,000 after buying an additional 63,627 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.
Seagate Technology PLC (NASDAQ STX) traded up 0.15% on Monday, hitting $33.48. The stock had a trading volume of 5,520,505 shares. The company has a 50 day moving average of $38.76 and a 200 day moving average of $43.35. The company has a market capitalization of $9.78 billion, a PE ratio of 12.98 and a beta of 1.69. Seagate Technology PLC has a 12-month low of $30.09 and a 12-month high of $50.96.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.34. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities analysts expect that Seagate Technology PLC will post $3.70 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.52 annualized dividend and a dividend yield of 7.53%. Seagate Technology PLC’s payout ratio is currently 97.67%.
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A number of equities analysts have issued reports on the company. Zacks Investment Research raised Seagate Technology PLC from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub downgraded Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. ValuEngine downgraded Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $35.00 price target (down from $42.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Finally, Citigroup Inc. lowered their price objective on Seagate Technology PLC from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, July 26th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $42.12.
In related news, Director Chong Sup Park sold 3,809 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $43.63, for a total value of $166,186.67. Following the completion of the transaction, the director now directly owns 11,753 shares in the company, valued at approximately $512,783.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David H. Morton, Jr. sold 3,040 shares of Seagate Technology PLC stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $43.26, for a total transaction of $131,510.40. Following the completion of the transaction, the chief financial officer now owns 9,063 shares of the company’s stock, valued at $392,065.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,456 shares of company stock valued at $715,313. 1.50% of the stock is currently owned by company insiders.
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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