12,137 Shares in Seagate Technology PLC (STX) Acquired by Wealthfront Inc.
Wealthfront Inc. acquired a new position in Seagate Technology PLC (NASDAQ:STX) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 12,137 shares of the data storage provider’s stock, valued at approximately $470,000.
Other institutional investors have also added to or reduced their stakes in the company. Global X Management Co. LLC boosted its position in shares of Seagate Technology PLC by 29.2% in the 1st quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after buying an additional 789 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Seagate Technology PLC in the 2nd quarter worth about $150,000. First Quadrant L P CA purchased a new stake in shares of Seagate Technology PLC in the 2nd quarter worth about $153,000. Private Advisory Group LLC purchased a new stake in shares of Seagate Technology PLC in the 1st quarter worth about $206,000. Finally, Glenview Trust Co purchased a new stake in shares of Seagate Technology PLC in the 1st quarter worth about $209,000. Institutional investors and hedge funds own 90.00% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 33.57 on Friday. The company’s 50-day moving average is $32.26 and its 200-day moving average is $40.25. The firm has a market cap of $9.66 billion, a P/E ratio of 13.01 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.
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 Zacks’ consensus estimate of $0.99 by ($0.34). Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts forecast that Seagate Technology PLC will post $3.66 earnings per share for the current fiscal year.
The business also recently disclosed 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 dividend yield of 7.51%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is 97.67%.
In related news, insider Philip G. Brace acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired 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 of the company’s stock, valued at $2,095,585.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by company insiders.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Seagate Technology PLC from a “hold” rating to a “strong sell” rating in a research report on Wednesday. BidaskClub lowered shares of Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 12th. FBN Securities lowered shares of Seagate Technology PLC from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $40.00 to $32.00 in a research report on Monday, September 11th. Jefferies Group LLC lowered shares of Seagate Technology PLC from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $29.00 in a research report on Monday, September 11th. Finally, ValuEngine lowered shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Five equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Seagate Technology PLC presently has an average rating of “Hold” and an average price target of $40.48.
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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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