Wrapmanager Inc. grew its holdings in Seagate Technology PLC (NASDAQ:STX) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,775 shares of the data storage provider’s stock after acquiring an additional 357 shares during the period. Wrapmanager Inc.’s holdings in Seagate Technology were worth $1,309,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Front Row Advisors LLC lifted its stake in shares of Seagate Technology by 91.0% in the first quarter. Front Row Advisors LLC now owns 573 shares of the data storage provider’s stock worth $28,000 after buying an additional 273 shares during the last quarter. First Interstate Bank acquired a new stake in shares of Seagate Technology in the first quarter worth $31,000. CWM LLC lifted its stake in shares of Seagate Technology by 61.3% in the second quarter. CWM LLC now owns 789 shares of the data storage provider’s stock worth $37,000 after buying an additional 300 shares during the last quarter. Ibex Wealth Advisors acquired a new position in Seagate Technology during the 2nd quarter valued at $61,000. Finally, Meridian Wealth Management LLC acquired a new position in Seagate Technology during the 1st quarter valued at $62,000. 87.90% of the stock is owned by institutional investors.
In other news, Director Stephen J. Luczo sold 10,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $47.00, for a total value of $470,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen J. Luczo sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $47.37, for a total transaction of $236,850.00. Following the completion of the sale, the director now directly owns 14,221 shares in the company, valued at approximately $673,648.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock worth $1,180,150. 1.00% of the stock is owned by insiders.
Shares of STX stock traded up $1.05 during mid-day trading on Tuesday, reaching $45.87. The company’s stock had a trading volume of 1,913,326 shares, compared to its average volume of 2,581,709. Seagate Technology PLC has a 1-year low of $35.38 and a 1-year high of $57.20. The company has a market capitalization of $12.07 billion, a P/E ratio of 9.52, a P/E/G ratio of 8.21 and a beta of 1.70. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.52 and a current ratio of 1.95. The firm’s 50-day moving average is $46.81.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The business’s revenue was down 16.4% on a year-over-year basis. On average, analysts forecast that Seagate Technology PLC will post 4.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Tuesday, September 24th. Seagate Technology’s payout ratio is 52.28%.
STX has been the subject of several research analyst reports. Argus upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Friday, May 3rd. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Friday, April 26th. BidaskClub cut shares of Seagate Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Barclays initiated coverage on shares of Seagate Technology in a research note on Wednesday, August 7th. They set an “underweight” rating and a $37.00 target price for the company. Finally, Benchmark reiterated a “buy” rating and set a $55.00 target price (down from $57.00) on shares of Seagate Technology in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $44.95.
About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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