Ameriprise Financial Inc. cut its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 70.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 310,726 shares of the data storage provider’s stock after selling 731,539 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.11% of Seagate Technology PLC worth $12,054,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Good Life Advisors LLC raised its position in shares of Seagate Technology PLC by 0.3% in the 2nd quarter. Good Life Advisors LLC now owns 9,883 shares of the data storage provider’s stock worth $379,000 after acquiring an additional 26 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Seagate Technology PLC by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 7,195 shares of the data storage provider’s stock worth $330,000 after acquiring an additional 51 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Seagate Technology PLC by 0.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 48,218 shares of the data storage provider’s stock worth $1,868,000 after acquiring an additional 152 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Seagate Technology PLC by 0.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,065 shares of the data storage provider’s stock valued at $855,000 after buying an additional 169 shares in the last quarter. Finally, IHT Wealth Management LLC increased its position in Seagate Technology PLC by 1.6% in the 1st quarter. IHT Wealth Management LLC now owns 12,225 shares of the data storage provider’s stock valued at $562,000 after buying an additional 194 shares in the last quarter. 90.08% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Philip G. Brace acquired 1,000 shares of the company’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 purchase, the insider now owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.
STX has been the subject of a number of research analyst reports. Loop Capital initiated coverage on Seagate Technology PLC in a research report on Monday, July 24th. They issued a “buy” rating and a $50.00 target price for the company. ValuEngine lowered Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. BidaskClub lowered Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Craig Hallum raised Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Monday, October 2nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $37.00 target price (down previously from $40.00) on shares of Seagate Technology PLC in a research note on Thursday, July 13th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $40.70.
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Seagate Technology PLC (NASDAQ:STX) opened at 33.96 on Wednesday. The stock has a market cap of $9.77 billion, a PE ratio of 13.16 and a beta of 1.72. The company’s 50 day moving average is $32.90 and its 200-day moving average is $38.57. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year 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 for the quarter, missing the consensus estimate of $0.99 by ($0.34). The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. Equities research analysts forecast that Seagate Technology PLC will post $3.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th were issued a $0.63 dividend. The ex-dividend date was Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.42%. Seagate Technology PLC’s payout ratio is 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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