321,197 Shares in Seagate Technology PLC (STX) Acquired by Aviance Capital Management LLC
Aviance Capital Management LLC acquired a new position in Seagate Technology PLC (NASDAQ:STX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 321,197 shares of the data storage provider’s stock, valued at approximately $12,446,000. Aviance Capital Management LLC owned about 0.11% of Seagate Technology PLC at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in STX. JPMorgan Chase & Co. grew its holdings in shares of Seagate Technology PLC by 74.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock worth $63,947,000 after purchasing an additional 703,822 shares in the last quarter. CIBC World Markets Inc. acquired a new position in shares of Seagate Technology PLC in the second quarter valued at $9,699,000. Aviva PLC raised its stake in shares of Seagate Technology PLC by 2.8% in the second quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock valued at $7,022,000 after purchasing an additional 4,950 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of Seagate Technology PLC by 7.9% in the second quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 604 shares in the last quarter. Finally, Sii Investments Inc. WI raised its stake in shares of Seagate Technology PLC by 4.3% in the first quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock valued at $295,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 90.00% of the company’s stock.
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In other news, insider Philip G. Brace purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the acquisition, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on STX. Zacks Investment Research raised shares of Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Craig Hallum raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating in a research note on Monday. Robert W. Baird reissued a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Seagate Technology PLC in a research report on Wednesday, July 26th. Morgan Stanley restated an “equal weight” rating and set a $37.00 price target (down previously from $40.00) on shares of Seagate Technology PLC in a research note on Thursday, July 13th. Finally, Mizuho cut their price target on shares of Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have issued 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.
Shares of Seagate Technology PLC (NASDAQ:STX) traded up 2.20% during midday trading on Monday, reaching $33.90. The company had a trading volume of 3,785,923 shares. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The stock’s 50 day moving average is $32.26 and its 200-day moving average is $40.25. The stock has a market capitalization of $9.76 billion, a PE ratio of 13.14 and a beta of 1.72. Seagate Technology PLC also was the recipient of some unusual options trading activity on Friday. Investors acquired 5,491 put options on the stock. This represents an increase of approximately 165% compared to the average volume of 2,070 put options.
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings data 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 the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. On average, equities research analysts predict that Seagate Technology PLC will post $3.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 7.60%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is currently 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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