Teacher Retirement System of Texas Has $15.62 Million Position in Seagate Technology PLC (STX)
Teacher Retirement System of Texas reduced its position in shares of Seagate Technology PLC (NASDAQ:STX) by 49.7% during the second quarter, Holdings Channel reports. The institutional investor owned 402,997 shares of the data storage provider’s stock after selling 397,768 shares during the period. Teacher Retirement System of Texas’ holdings in Seagate Technology PLC were worth $15,616,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. BlackRock Inc. raised its stake in shares of 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 in the last quarter. State Street Corp raised its stake in shares of Seagate Technology PLC by 3.4% in the first quarter. State Street Corp now owns 11,253,471 shares of the data storage provider’s stock worth $516,900,000 after buying an additional 374,218 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of 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 in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.
Seagate Technology PLC (STX) opened at 32.29 on Friday. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 12.52 and a beta of 1.69. Seagate Technology PLC has a 52 week low of $31.35 and a 52 week high of $50.96. The firm has a 50-day moving average of $36.75 and a 200 day moving average of $43.00.
Seagate Technology PLC (NASDAQ:STX) last announced its earnings results 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. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, analysts anticipate that Seagate Technology PLC will post $3.70 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.80%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is 97.67%.
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A number of equities research analysts recently issued reports on STX shares. Citigroup Inc. dropped their price objective on shares of Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, July 18th. UBS AG reissued a “sell” rating and issued a $28.00 price objective (down previously from $34.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Barclays PLC lowered shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $49.00 to $40.00 in a report on Thursday, July 13th. Jefferies Group LLC dropped their price objective on shares of Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, April 28th. Finally, Longbow Research lowered shares of Seagate Technology PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Seagate Technology PLC presently has an average rating of “Hold” and an average target price of $42.12.
In other Seagate Technology PLC news, insider Philip G. Brace bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were bought at an average cost of $33.34 per share, with a total value of $33,340.00. Following the transaction, the insider now directly owns 62,855 shares in the company, valued at approximately $2,095,585.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Re sold 9,607 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $43.47, for a total value of $417,616.29. Following the completion of the transaction, the senior vice president now directly owns 40,470 shares in the company, valued at $1,759,230.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,456 shares of company stock worth $715,313. 1.50% of the stock is currently owned by corporate 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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