Ropes Wealth Advisors LLC Increases Holdings in Seagate Technology PLC (STX)
Ropes Wealth Advisors LLC raised its stake in Seagate Technology PLC (NASDAQ:STX) by 4.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,572 shares of the data storage provider’s stock after acquiring an additional 270 shares during the period. Ropes Wealth Advisors LLC’s holdings in Seagate Technology PLC were worth $255,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in STX. State Board of Administration of Florida Retirement System grew its stake in shares of Seagate Technology PLC by 2.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,842 shares of the data storage provider’s stock worth $1,003,000 after buying an additional 500 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Seagate Technology PLC by 12.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 910,681 shares of the data storage provider’s stock worth $41,828,000 after buying an additional 97,352 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Seagate Technology PLC in the 1st quarter worth $2,737,000. Sei Investments Co. grew its stake in shares of Seagate Technology PLC by 47.2% in the 1st quarter. Sei Investments Co. now owns 32,826 shares of the data storage provider’s stock worth $1,507,000 after buying an additional 10,522 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of Seagate Technology PLC by 14.6% in the 1st quarter. Penserra Capital Management LLC now owns 28,916 shares of the data storage provider’s stock worth $1,328,000 after buying an additional 3,688 shares in the last quarter. Institutional investors own 90.00% of the company’s stock.
A number of equities analysts have commented on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $35.00 price objective (down from $42.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Craig Hallum cut shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price objective on shares of Seagate Technology PLC in a research note on Friday, July 14th. Cowen and Company dropped their price objective on shares of Seagate Technology PLC from $45.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, July 26th. Finally, Loop Capital assumed coverage on shares of Seagate Technology PLC in a research note on Monday, July 24th. They issued a “buy” rating and a $50.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $40.48.
Seagate Technology PLC (NASDAQ STX) traded up 0.27% during midday trading on Monday, hitting $33.66. 443,809 shares of the stock traded hands. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The firm has a market cap of $9.69 billion, a P/E ratio of 13.05 and a beta of 1.69. The company’s 50-day moving average is $32.26 and its 200 day moving average is $40.25.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.34). Seagate Technology PLC had a net margin of 4.74% and a return on equity of 30.77%. The business 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 business posted $0.69 EPS. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts anticipate that Seagate Technology PLC will post $3.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a yield of 7.51%. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.
In other news, insider Philip G. Brace purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by insiders.
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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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