Seagate Technology PLC (NASDAQ:STX) Position Boosted by Harbour Capital Advisors LLC
Harbour Capital Advisors LLC raised its position in shares of Seagate Technology PLC (NASDAQ:STX) by 3,775.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 13,563 shares of the data storage provider’s stock after buying an additional 13,213 shares during the period. Harbour Capital Advisors LLC’s holdings in Seagate Technology PLC were worth $350,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Seagate Technology PLC by 3,179.5% in the first quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock worth $842,196,000 after buying an additional 17,777,387 shares during the period. Prudential Financial Inc. boosted its stake in Seagate Technology PLC by 355.8% in the first quarter. Prudential Financial Inc. now owns 2,603,387 shares of the data storage provider’s stock worth $119,573,000 after buying an additional 2,032,271 shares during the period. Renaissance Technologies LLC boosted its stake in Seagate Technology PLC by 1,387.8% in the first quarter. Renaissance Technologies LLC now owns 1,292,893 shares of the data storage provider’s stock worth $59,383,000 after buying an additional 1,205,993 shares during the period. Vanguard Group Inc. boosted its stake in Seagate Technology PLC by 3.8% in the first quarter. Vanguard Group Inc. now owns 31,119,928 shares of the data storage provider’s stock worth $1,429,338,000 after buying an additional 1,132,336 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Seagate Technology PLC by 25.1% in the first quarter. Geode Capital Management LLC now owns 3,206,093 shares of the data storage provider’s stock worth $147,067,000 after buying an additional 642,845 shares during the period. 87.99% of the stock is currently owned by institutional investors.
Shares of Seagate Technology PLC (NASDAQ:STX) opened at 33.48 on Tuesday. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 12.98 and a beta of 1.69. The firm’s 50 day moving average is $38.76 and its 200-day moving average is $43.35. Seagate Technology PLC has a 52 week low of $30.09 and a 52 week high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the company earned $0.69 EPS. The firm’s revenue was down 9.3% on a year-over-year basis. Equities research analysts predict that Seagate Technology PLC will post $3.70 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 7.53%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is 97.67%.
A number of equities research analysts have recently weighed in on STX shares. Needham & Company LLC lifted their price target on Seagate Technology PLC from $55.00 to $57.00 and gave the company a “strong-buy” rating in a report on Thursday, April 27th. Jefferies Group LLC cut their price target on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, April 28th. Cowen and Company reaffirmed a “market perform” rating and set a $45.00 price target (down previously from $46.00) on shares of Seagate Technology PLC in a report on Wednesday, April 26th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $45.00 price target on shares of Seagate Technology PLC in a report on Friday, June 9th. Finally, Zacks Investment Research raised Seagate Technology PLC from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.12.
In related news, insider Philip G. Brace acquired 1,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was bought at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the transaction, the insider now directly owns 62,855 shares of the company’s stock, valued at $2,095,585.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chong Sup Park sold 3,809 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $43.63, for a total transaction of $166,186.67. Following the sale, the director now directly owns 11,753 shares of the company’s stock, valued at approximately $512,783.39. The disclosure for this sale can be found here. Insiders have sold 16,456 shares of company stock valued at $715,313 in the last three months. 1.50% of the stock is 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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