Federated Investors Inc. PA Acquires 640 Shares of Seagate Technology PLC (STX)
Federated Investors Inc. PA raised its position in Seagate Technology PLC (NASDAQ:STX) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 505,997 shares of the data storage provider’s stock after buying an additional 640 shares during the period. Federated Investors Inc. PA owned approximately 0.17% of Seagate Technology PLC worth $19,607,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in Seagate Technology PLC by 7.5% in the fourth quarter. Teachers Advisors LLC now owns 56,428 shares of the data storage provider’s stock worth $2,154,000 after buying an additional 3,936 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Seagate Technology PLC by 27.1% in the first quarter. Nisa Investment Advisors LLC now owns 45,050 shares of the data storage provider’s stock worth $2,069,000 after buying an additional 9,608 shares in the last quarter. Retirement Systems of Alabama increased its stake in Seagate Technology PLC by 2.2% in the first quarter. Retirement Systems of Alabama now owns 142,681 shares of the data storage provider’s stock worth $6,553,000 after buying an additional 3,085 shares in the last quarter. James Investment Research Inc. acquired a new stake in Seagate Technology PLC during the first quarter worth $259,000. Finally, Nationwide Fund Advisors increased its stake in Seagate Technology PLC by 1.5% in the first quarter. Nationwide Fund Advisors now owns 261,401 shares of the data storage provider’s stock worth $12,006,000 after buying an additional 3,783 shares in the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Seagate Technology PLC (NASDAQ STX) opened at 31.25 on Friday. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 12.11 and a beta of 1.69. The company has a 50-day moving average of $34.62 and a 200 day moving average of $42.12.
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 consensus estimate of $0.99 by $0.34. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. Analysts predict that Seagate Technology PLC will post $3.69 earnings per share for the current year.
The firm also recently declared 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 annualized dividend and a dividend yield of 8.06%. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.
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A number of analysts have recently weighed in on STX shares. Jefferies Group LLC reduced their target price on shares of Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price target (down previously from $46.00) on shares of Seagate Technology PLC in a research note on Saturday, April 29th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $44.00 price target (up previously from $43.00) on shares of Seagate Technology PLC in a research note on Thursday, June 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $45.00 price target on shares of Seagate Technology PLC in a research note on Friday, June 9th. Finally, Aegis started coverage on shares of Seagate Technology PLC in a research note on Tuesday, June 13th. They issued a “buy” rating and a $50.00 price target on the stock. Five research analysts have rated the stock with a sell rating, twenty have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $42.12.
In other news, CFO David H. Morton, Jr. sold 3,040 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $43.26, for a total value of $131,510.40. Following the completion of the sale, the chief financial officer now directly owns 9,063 shares of the company’s stock, valued at approximately $392,065.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip G. Brace purchased 1,000 shares of Seagate Technology PLC stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of $33.34 per share, with a total value of $33,340.00. Following the completion of the acquisition, the insider now directly owns 62,855 shares in the company, valued at $2,095,585.70. The disclosure for this purchase can be found here. 1.50% of the stock is 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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