Aviva PLC Boosts Position in Seagate Technology PLC (STX)
Aviva PLC increased its position in shares of Seagate Technology PLC (NASDAQ:STX) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,216 shares of the data storage provider’s stock after buying an additional 4,950 shares during the period. Aviva PLC owned approximately 0.06% of Seagate Technology PLC worth $7,022,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cleararc Capital Inc. increased its position in Seagate Technology PLC by 0.7% in the first quarter. Cleararc Capital Inc. now owns 7,195 shares of the data storage provider’s stock worth $330,000 after buying an additional 51 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its position in Seagate Technology PLC by 0.7% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 16,163 shares of the data storage provider’s stock worth $742,000 after buying an additional 115 shares in the last quarter. IHT Wealth Management LLC increased its position in Seagate Technology PLC by 1.6% in the first quarter. IHT Wealth Management LLC now owns 12,225 shares of the data storage provider’s stock worth $562,000 after buying an additional 194 shares in the last quarter. Sii Investments Inc. WI increased its position in 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 worth $295,000 after buying an additional 269 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Seagate Technology PLC by 0.4% in the first quarter. Arizona State Retirement System now owns 73,100 shares of the data storage provider’s stock worth $3,357,000 after buying an additional 300 shares in the last quarter. 88.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Seagate Technology PLC (NASDAQ STX) opened at 31.45 on Wednesday. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 12.19 and a beta of 1.69. The firm has a 50-day moving average of $34.62 and a 200-day moving average of $42.12. Seagate Technology PLC has a one year low of $30.60 and a one year 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 EPS for the quarter, missing the 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 return on equity of 81.87% and a net margin of 7.17%. The firm’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. Equities research analysts forecast that Seagate Technology PLC will post $3.69 EPS 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 issued a $0.63 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 annualized dividend and a yield of 8.01%. Seagate Technology PLC’s dividend payout ratio (DPR) is currently 97.67%.
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A number of brokerages recently commented on STX. Craig Hallum cut shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. BMO Capital Markets restated a “market perform” rating and set a $35.00 price target (down from $42.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target on shares of Seagate Technology PLC in a research note on Friday, July 14th. Cowen and Company dropped their price target on shares of Seagate Technology PLC from $45.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 26th. Finally, Loop Capital began coverage on shares of Seagate Technology PLC in a research note on Monday, July 24th. They set a “buy” rating and a $50.00 price target on the stock. Five research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.12.
In related news, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the acquisition, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David H. Morton, Jr. sold 3,040 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $43.26, for a total transaction of $131,510.40. Following the completion of the sale, the chief financial officer now owns 9,063 shares in the company, valued at $392,065.38. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
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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