Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes $1.70 Million Position in Seagate Technology PLC (STX)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Seagate Technology PLC (NASDAQ:STX) in the second quarter, HoldingsChannel.com reports. The firm bought 30,050 shares of the data storage provider’s stock, valued at approximately $1,697,000.
Other hedge funds also recently added to or reduced their stakes in the company. Clinton Group Inc. acquired a new stake in Seagate Technology in the 2nd quarter worth approximately $2,197,000. Handelsbanken Fonder AB acquired a new stake in Seagate Technology in the 2nd quarter worth approximately $339,000. HAP Trading LLC lifted its stake in Seagate Technology by 116.6% during the 1st quarter. HAP Trading LLC now owns 14,330 shares of the data storage provider’s stock valued at $839,000 after acquiring an additional 100,764 shares during the period. Suntrust Banks Inc. lifted its stake in Seagate Technology by 4.3% during the 1st quarter. Suntrust Banks Inc. now owns 33,073 shares of the data storage provider’s stock valued at $1,934,000 after acquiring an additional 1,352 shares during the period. Finally, Whittier Trust Co. lifted its stake in Seagate Technology by 598.7% during the 2nd quarter. Whittier Trust Co. now owns 40,879 shares of the data storage provider’s stock valued at $2,322,000 after acquiring an additional 35,028 shares during the period. Institutional investors own 83.08% of the company’s stock.
NASDAQ:STX opened at $54.26 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 2.59. The company has a market cap of $14.61 billion, a PE ratio of 9.69, a PEG ratio of 0.62 and a beta of 1.74. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $62.70.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Tuesday, September 18th. Seagate Technology’s dividend payout ratio (DPR) is 45.74%.
STX has been the subject of several research reports. ValuEngine cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 23rd. FBN Securities upgraded shares of Seagate Technology from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 1st. Guggenheim restated a “hold” rating on shares of Seagate Technology in a research note on Tuesday, May 1st. Cowen set a $55.00 price objective on shares of Seagate Technology and gave the company a “market perform” rating in a research note on Wednesday, May 2nd. Finally, Cfra restated a “hold” rating on shares of Seagate Technology in a research note on Tuesday, May 1st. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.77.
In other news, insider Stephen J. Luczo sold 100,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $59.05, for a total transaction of $5,905,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Holdings L.P. Valueact bought 125,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were purchased at an average cost of $52.87 per share, with a total value of $6,608,750.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 6,184,448 shares of company stock valued at $320,875,365. Insiders own 0.87% of the company’s stock.
About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.
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