Seagate Technology PLC (STX) Position Held by Choate Investment Advisors
Choate Investment Advisors continued to hold its position in Seagate Technology PLC (NASDAQ:STX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,378 shares of the data storage provider’s stock at the close of the second quarter. Choate Investment Advisors’ holdings in Seagate Technology PLC were worth $286,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in STX. Teachers Advisors LLC lifted its holdings in Seagate Technology PLC by 7.5% in the 4th quarter. Teachers Advisors LLC now owns 56,428 shares of the data storage provider’s stock valued at $2,154,000 after purchasing an additional 3,936 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Seagate Technology PLC by 2.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,842 shares of the data storage provider’s stock valued at $1,003,000 after purchasing an additional 500 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Seagate Technology PLC by 12.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 910,681 shares of the data storage provider’s stock valued at $41,828,000 after purchasing an additional 97,352 shares in the last quarter. Karp Capital Management Corp purchased a new position in Seagate Technology PLC in the 1st quarter valued at about $2,737,000. Finally, Sei Investments Co. lifted its holdings in Seagate Technology PLC by 47.2% in the 1st quarter. Sei Investments Co. now owns 32,826 shares of the data storage provider’s stock valued at $1,507,000 after purchasing an additional 10,522 shares in the last quarter. Institutional investors own 90.00% of the company’s stock.
In other news, insider Philip G. Brace purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the purchase, the insider now directly owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.
STX has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “hold” rating and set a $45.00 price objective on shares of Seagate Technology PLC in a report on Friday, June 9th. Barclays PLC lowered shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $49.00 to $40.00 in a report on Thursday, July 13th. Citigroup Inc. cut their price objective on shares of Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, July 18th. Finally, FBN Securities lowered shares of Seagate Technology PLC from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $40.00 to $32.00 in a report on Monday, September 11th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Seagate Technology PLC has a consensus rating of “Hold” and a consensus price target of $40.48.
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Seagate Technology PLC (NASDAQ:STX) opened at 32.9485 on Monday. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 12.7707 and a beta of 1.69. The company’s 50-day moving average price is $32.26 and its 200-day moving average price is $40.61. Seagate Technology PLC has a 12-month low of $30.60 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 consensus estimate of $0.99 by ($0.34). Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company earned $0.69 EPS. The company’s revenue was down 9.3% compared to the same quarter last year. Equities analysts expect that Seagate Technology PLC will post $3.67 EPS for the current fiscal year.
The company 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. This represents a $2.52 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 97.67%.
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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