Prospera Financial Services Inc raised its position in shares of Seagate Technology PLC (NASDAQ:STX) by 104.3% during the second quarter, Holdings Channel reports. The fund owned 25,140 shares of the data storage provider’s stock after buying an additional 12,834 shares during the period. Prospera Financial Services Inc’s holdings in Seagate Technology PLC were worth $612,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Seagate Technology PLC during the first quarter worth approximately $214,000. Americafirst Capital Management LLC purchased a new position in Seagate Technology PLC during the second quarter worth about $238,000. Jacobs Levy Equity Management Inc. purchased a new position in Seagate Technology PLC during the first quarter worth about $252,000. First Niagara Bank purchased a new position in Seagate Technology PLC during the second quarter worth about $262,000. Finally, Oak Associates Ltd. OH purchased a new position in Seagate Technology PLC during the first quarter worth about $266,000. Institutional investors and hedge funds own 83.90% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ:STX) traded down 0.79% on Thursday, hitting $36.40. The company’s stock had a trading volume of 2,585,414 shares. Seagate Technology PLC has a 52 week low of $18.42 and a 52 week high of $49.50. The stock has a market capitalization of $10.92 billion, a P/E ratio of 44.39 and a beta of 2.46. The stock’s 50 day moving average price is $33.81 and its 200 day moving average price is $28.79.
Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, August 2nd. The data storage provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.09. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. Seagate Technology PLC had a net margin of 2.22% and a return on equity of 38.98%. Seagate Technology PLC’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. On average, analysts forecast that Seagate Technology PLC will post $3.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Wednesday, September 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 6.92%. The ex-dividend date of this dividend is Monday, September 19th. Seagate Technology PLC’s payout ratio is 307.32%.
STX has been the topic of a number of research reports. Vetr downgraded Seagate Technology PLC from a “sell” rating to a “strong sell” rating and set a $28.00 price target on the stock. in a research note on Monday, August 15th. Craig Hallum raised their price target on Seagate Technology PLC from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 7th. BMO Capital Markets restated a “market perform” rating on shares of Seagate Technology PLC in a research note on Wednesday, June 22nd. Jefferies Group raised their price target on Seagate Technology PLC from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Finally, Royal Bank Of Canada raised their price target on Seagate Technology PLC from $31.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.23.
In other Seagate Technology PLC news, CFO David H. Morton, Jr. sold 1,716 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $36.16, for a total transaction of $62,050.56. Following the transaction, the chief financial officer now directly owns 20,782 shares of the company’s stock, valued at $751,477.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark Re sold 12,750 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $31.84, for a total transaction of $405,960.00. Following the transaction, the senior vice president now directly owns 65,520 shares in the company, valued at $2,086,156.80. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
About Seagate Technology PLC
Seagate Technology plc (Seagate) is a provider of electronic data storage products. The Company’s products are hard disk drives (HDD). The Company produces a range of electronic data storage products, including solid state hybrid drives (SSHD), solid state drives (SSD), peripheral component interconnect express (PCIe) cards and Serial AT Attachment (SATA) controllers.
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