Seagate Technology PLC (STX) Stake Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 9.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 33,500 shares of the data storage provider’s stock after selling 3,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Seagate Technology PLC were worth $1,539,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position 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 valued at $1,429,338,000 after buying an additional 1,132,336 shares in the last quarter. BlackRock Inc. boosted its position 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 valued at $842,196,000 after buying an additional 17,777,387 shares in the last quarter. State Street Corp boosted its position 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 valued at $516,900,000 after buying an additional 374,218 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 valued at $147,067,000 after buying an additional 642,845 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in 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 valued at $119,573,000 after buying an additional 2,032,271 shares in the last quarter. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology PLC (STX) traded up 0.41% during mid-day trading on Friday, reaching $39.58. 3,256,610 shares of the company’s stock were exchanged. The firm has a market capitalization of $11.74 billion, a P/E ratio of 16.29 and a beta of 1.73. The company’s 50-day moving average is $40.54 and its 200 day moving average is $43.52. Seagate Technology PLC has a one year low of $30.09 and a one year high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Wednesday, April 26th. The data storage provider reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.04. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.71 billion. Seagate Technology PLC had a net margin of 6.61% and a return on equity of 79.83%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Equities analysts predict that Seagate Technology PLC will post $4.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st were issued a $0.63 dividend. The ex-dividend date was Monday, June 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.37%. Seagate Technology PLC’s dividend payout ratio is presently 103.70%.

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Several analysts recently issued reports on the stock. Susquehanna Bancshares Inc reiterated a “neutral” rating on shares of Seagate Technology PLC in a research report on Wednesday, April 12th. Evercore ISI began coverage on shares of Seagate Technology PLC in a research report on Friday, June 16th. They issued an “in-line” rating and a $48.00 target price on the stock. Royal Bank Of Canada cut their target price on shares of Seagate Technology PLC from $50.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 27th. BTIG Research restated a “buy” rating and issued a $55.00 target price on shares of Seagate Technology PLC in a research report on Thursday, April 6th. Finally, Cowen and Company reiterated a “market perform” rating and set a $45.00 price target (down previously from $46.00) on shares of Seagate Technology PLC in a report on Wednesday, April 26th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Seagate Technology PLC currently has an average rating of “Hold” and a consensus target price of $43.48.

In other news, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $43.26, for a total transaction of $131,510.40. Following the transaction, the chief financial officer now owns 9,063 shares in the company, valued at $392,065.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Luczo sold 100,000 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $50.00, for a total transaction of $5,000,000.00. Following the transaction, the chief executive officer now owns 27,188 shares in the company, valued at approximately $1,359,400. The disclosure for this sale can be found here. Insiders sold 116,456 shares of company stock valued at $5,715,313 over the last quarter. 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.

Institutional Ownership by Quarter for Seagate Technology PLC (NASDAQ:STX)

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