Norinchukin Bank The Sells 171 Shares of Seagate Technology PLC (STX)
Norinchukin Bank The lowered its stake in Seagate Technology PLC (NASDAQ:STX) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,511 shares of the data storage provider’s stock after selling 171 shares during the quarter. Norinchukin Bank The’s holdings in Seagate Technology PLC were worth $989,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Seagate Technology PLC by 3,179.5% in the first quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock valued at $842,196,000 after purchasing an additional 17,777,387 shares during the last quarter. Prudential Financial Inc. boosted its holdings in 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 valued at $119,573,000 after purchasing an additional 2,032,271 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Seagate Technology PLC by 1,387.8% in the first quarter. Renaissance Technologies LLC now owns 1,292,893 shares of the data storage provider’s stock valued at $59,383,000 after purchasing an additional 1,205,993 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Seagate Technology PLC by 181.1% in the second quarter. Schroder Investment Management Group now owns 1,772,547 shares of the data storage provider’s stock valued at $68,970,000 after purchasing an additional 1,141,917 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings 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 purchasing an additional 1,132,336 shares during the last quarter. Institutional investors and hedge funds own 90.00% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ STX) opened at 33.55 on Monday. The firm has a market cap of $9.66 billion, a PE ratio of 13.00 and a beta of 1.69. Seagate Technology PLC has a 52-week low of $30.60 and a 52-week high of $50.96. The company’s 50-day moving average price is $32.26 and its 200-day moving average price is $40.61.
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 the Zacks’ consensus estimate of $0.99 by ($0.34). The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. Seagate Technology PLC’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. Equities analysts expect that Seagate Technology PLC will post $3.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is presently 97.67%.
A number of research analysts recently commented on the company. BMO Capital Markets reissued a “market perform” rating and issued a $35.00 price target (down previously from $42.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Craig Hallum downgraded Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price target on shares of Seagate Technology PLC in a report on Friday, July 14th. Cowen and Company reduced their price target on Seagate Technology PLC from $45.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, July 26th. 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 target for the company. Four investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $40.48.
In related news, insider Philip G. Brace bought 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the purchase, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.
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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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