South Street Advisors LLC Has $1,005,000 Stake in Seagate Technology PLC (STX)
South Street Advisors LLC held its position in shares of Seagate Technology PLC (NASDAQ:STX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,960 shares of the data storage provider’s stock at the end of the 2nd quarter. South Street Advisors LLC’s holdings in Seagate Technology PLC were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in Seagate Technology PLC in the second quarter worth $150,000. First Quadrant L P CA bought a new stake in Seagate Technology PLC in the second quarter worth $153,000. Global X Management Co. LLC lifted its stake in Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after purchasing an additional 789 shares during the last quarter. Private Advisory Group LLC bought a new stake in Seagate Technology PLC in the first quarter worth $206,000. Finally, Glenview Trust Co bought a new stake in Seagate Technology PLC in the first quarter worth $209,000. 90.00% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on STX shares. Citigroup Inc. lowered their price target on shares of Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, July 18th. UBS AG reaffirmed a “sell” rating and set a $28.00 price objective (down from $34.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Barclays PLC downgraded shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $49.00 to $40.00 in a research note on Thursday, July 13th. Longbow Research downgraded shares of Seagate Technology PLC from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price objective (down from $37.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Five equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $40.48.
In other news, insider Philip G. Brace acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average price 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 $2,095,585.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.
Seagate Technology PLC (NASDAQ:STX) traded up 2.60% during midday trading on Friday, hitting $33.57. 4,397,593 shares of the stock were exchanged. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $50.96. The company has a market cap of $9.66 billion, a PE ratio of 13.01 and a beta of 1.69. The firm’s 50 day moving average price is $32.26 and its 200 day moving average price is $40.25.
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 analysts’ consensus estimates 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 firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the firm earned $0.69 EPS. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities research analysts forecast that Seagate Technology PLC will post $3.66 earnings per share for the current fiscal year.
The company 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.51%. The ex-dividend date of this dividend is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is currently 97.67%.
Seagate Technology PLC Company Profile
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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