Seagate Technology PLC (STX) Position Reduced by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI cut its position in shares of Seagate Technology PLC (NASDAQ:STX) by 41.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,718 shares of the data storage provider’s stock after selling 127,917 shares during the period. Commerzbank Aktiengesellschaft FI owned approximately 0.06% of Seagate Technology PLC worth $7,003,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. SignalPoint Asset Management LLC increased its stake in Seagate Technology PLC by 9.1% in the first quarter. SignalPoint Asset Management LLC now owns 15,255 shares of the data storage provider’s stock worth $701,000 after buying an additional 1,273 shares in the last quarter. Wrapmanager Inc. increased its stake in Seagate Technology PLC by 6.1% in the first quarter. Wrapmanager Inc. now owns 30,605 shares of the data storage provider’s stock worth $1,406,000 after buying an additional 1,770 shares in the last quarter. Syntal Capital Partners LLC bought a new stake in Seagate Technology PLC during the first quarter worth approximately $577,000. Eqis Capital Management Inc. bought a new stake in Seagate Technology PLC during the first quarter worth approximately $209,000. Finally, State Treasurer State of Michigan increased its stake in Seagate Technology PLC by 0.6% in the first quarter. State Treasurer State of Michigan now owns 96,940 shares of the data storage provider’s stock worth $4,452,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 88.60% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 31.80 on Friday. The firm has a 50-day moving average price of $33.63 and a 200 day moving average price of $41.58. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $50.96. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 12.33 and a beta of 1.69.
Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm earned $0.69 EPS. Seagate Technology PLC’s quarterly revenue was down 9.3% on a year-over-year basis. On average, analysts predict that Seagate Technology PLC will post $3.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.92%. Seagate Technology PLC’s payout ratio is presently 97.67%.
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A number of equities research analysts recently commented on the company. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $44.00 price objective (up previously from $43.00) on shares of Seagate Technology PLC in a report on Thursday, June 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $45.00 price objective on shares of Seagate Technology PLC in a report on Friday, June 9th. Aegis assumed coverage on Seagate Technology PLC in a report on Tuesday, June 13th. They issued a “buy” rating and a $50.00 price objective for the company. Evercore ISI assumed coverage on Seagate Technology PLC in a report on Friday, June 16th. They issued an “in-line” rating and a $48.00 price objective for the company. Finally, Loop Capital assumed coverage on Seagate Technology PLC in a report on Monday, July 24th. They issued a “buy” rating and a $50.00 price objective for the company. Five research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.80.
In other Seagate Technology PLC news, insider Philip G. Brace bought 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the purchase, the insider now directly 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 available through this link. Also, CFO David H. Morton, Jr. sold 3,040 shares of the business’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 transaction, the chief financial officer now owns 9,063 shares in the company, valued at approximately $392,065.38. The disclosure for this sale can be found here. 1.50% of the stock is owned by 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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