Seagate Technology PLC (STX) Shares Bought by SpiderRock Advisors LLC
SpiderRock Advisors LLC raised its stake in Seagate Technology PLC (NASDAQ:STX) by 2,419.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,568 shares of the data storage provider’s stock after acquiring an additional 5,347 shares during the quarter. SpiderRock Advisors LLC’s holdings in Seagate Technology PLC were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global X Management Co. LLC lifted its stake in shares of Seagate Technology PLC by 29.2% during the 1st quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares in the last quarter. WFG Advisors LP lifted its stake in shares of Seagate Technology PLC by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after buying an additional 3,638 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Seagate Technology PLC during the 2nd quarter valued at approximately $150,000. First Quadrant L P CA purchased a new stake in shares of Seagate Technology PLC during the 2nd quarter valued at approximately $153,000. Finally, Private Advisory Group LLC purchased a new stake in shares of Seagate Technology PLC during the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 90.08% of the company’s stock.
STX has been the topic of a number of analyst reports. Benchmark Co. lowered shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Mizuho decreased their target price on shares of Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Loop Capital initiated coverage on shares of Seagate Technology PLC in a report on Monday, July 24th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Barclays PLC lowered shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and decreased their target price 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 have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.70.
Shares of Seagate Technology PLC (NASDAQ:STX) traded up 1.51% during midday trading on Friday, reaching $34.86. 6,564,171 shares of the company’s stock traded hands. Seagate Technology PLC has a one year low of $30.60 and a one year high of $50.96. The company has a 50-day moving average of $33.17 and a 200-day moving average of $38.33. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 13.51 and a beta of 1.72.
Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.34). The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. Equities research analysts anticipate that Seagate Technology PLC will post $3.63 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date was Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.
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In related news, insider Philip G. Brace bought 1,000 shares of the stock in a transaction dated 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 completion of the purchase, the insider now owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.87% of the stock is currently owned by insiders.
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.
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