Kempen Capital Management N.V. acquired a new stake in Seagate Technology PLC (NASDAQ:STX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 295,332 shares of the data storage provider’s stock, valued at approximately $11,444,000. Kempen Capital Management N.V. owned 0.10% of Seagate Technology PLC at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Seagate Technology PLC during the second quarter worth $150,000. First Quadrant L P CA acquired a new stake in shares of Seagate Technology PLC during the second quarter worth $153,000. Global X Management Co. LLC lifted its holdings in shares of Seagate Technology PLC by 29.2% during the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after purchasing an additional 789 shares during the period. Sigma Investment Counselors Inc. acquired a new stake in shares of Seagate Technology PLC during the first quarter worth $201,000. Finally, Private Advisory Group LLC acquired a new stake in shares of Seagate Technology PLC during the first quarter worth $206,000. 89.88% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. & international trademark and copyright laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/09/17/kempen-capital-management-n-v-acquires-new-holdings-in-seagate-technology-plc-stx.html.

STX has been the subject of several recent research reports. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $44.00 price target (up from $43.00) on shares of Seagate Technology PLC in a report on Thursday, June 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $45.00 price target on shares of Seagate Technology PLC in a report on Friday, June 9th. Aegis initiated coverage on Seagate Technology PLC in a report on Tuesday, June 13th. They set a “buy” rating and a $50.00 price target for the company. Evercore ISI initiated coverage on Seagate Technology PLC in a report on Friday, June 16th. They set an “in-line” rating and a $48.00 price target for the company. Finally, Barclays PLC downgraded Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $49.00 to $40.00 in a report on Thursday, July 13th. Four research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $40.48.

In other Seagate Technology PLC news, insider Philip G. Brace purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is currently owned by insiders.

Shares of Seagate Technology PLC (STX) traded up 2.76% during mid-day trading on Friday, reaching $33.55. The company’s stock had a trading volume of 9,565,630 shares. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96. The firm’s 50 day moving average is $32.26 and its 200-day moving average is $40.61. The company has a market capitalization of $9.66 billion, a PE ratio of 13.00 and a beta of 1.69.

Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.34). The business had revenue of $2.41 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Analysts forecast that Seagate Technology PLC will post $3.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 7.51%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is 97.67%.

Seagate Technology PLC 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.

Institutional Ownership by Quarter for Seagate Technology PLC (NASDAQ:STX)

Receive News & Stock Ratings for Seagate Technology PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology PLC and related stocks with our FREE daily email newsletter.