California Public Employees Retirement System lowered its stake in Seagate Technology PLC (NASDAQ:STX) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 577,427 shares of the data storage provider’s stock after selling 21,791 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Seagate Technology worth $27,953,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of STX. Balentine LLC bought a new stake in shares of Seagate Technology during the 1st quarter worth about $25,000. Paragon Capital Management LLC acquired a new position in Seagate Technology during the 1st quarter worth $28,000. WASHINGTON TRUST Co bought a new stake in Seagate Technology during the 1st quarter worth about $29,000. First Horizon Advisors Inc. boosted its position in shares of Seagate Technology by 145.6% in the 1st quarter. First Horizon Advisors Inc. now owns 587 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 348 shares during the last quarter. Finally, Ameritas Investment Company LLC acquired a new position in shares of Seagate Technology in the 1st quarter valued at $42,000. 83.55% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Stephen J. Luczo sold 7,000 shares of Seagate Technology stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $52.35, for a total transaction of $366,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Ban Seng Teh sold 498 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $52.80, for a total transaction of $26,294.40. Following the completion of the transaction, the senior vice president now directly owns 11,197 shares of the company’s stock, valued at approximately $591,201.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,996 shares of company stock valued at $779,824 in the last ninety days. Corporate insiders own 1.12% of the company’s stock.
STX stock opened at $46.60 on Friday. Seagate Technology PLC has a one year low of $39.02 and a one year high of $64.17. The firm has a 50-day simple moving average of $46.40 and a two-hundred day simple moving average of $48.91. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.09 and a current ratio of 1.51. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 8.81 and a beta of 0.98.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.20. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.62 billion. Seagate Technology had a net margin of 9.55% and a return on equity of 68.62%. Seagate Technology’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. As a group, equities analysts predict that Seagate Technology PLC will post 4.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 23rd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date is Tuesday, September 22nd. Seagate Technology’s dividend payout ratio is currently 56.89%.
A number of research analysts have recently commented on STX shares. Stifel Nicolaus decreased their price objective on shares of Seagate Technology from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. UBS Group upgraded Seagate Technology from a “sell” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $46.00 in a research report on Tuesday, August 4th. Sanford C. Bernstein started coverage on Seagate Technology in a report on Tuesday, July 14th. They issued a “market perform” rating and a $45.00 target price for the company. Morgan Stanley reduced their price target on Seagate Technology from $56.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. Finally, ValuEngine raised shares of Seagate Technology from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 13th. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.71.
Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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