Tower Research Capital LLC TRC raised its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,983 shares of the data storage provider’s stock after purchasing an additional 770 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Seagate Technology were worth $377,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Front Row Advisors LLC boosted its stake in Seagate Technology by 91.0% in the 1st quarter. Front Row Advisors LLC now owns 573 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 273 shares in the last quarter. CWM LLC lifted its stake in Seagate Technology by 61.3% during the 2nd quarter. CWM LLC now owns 789 shares of the data storage provider’s stock valued at $37,000 after acquiring an additional 300 shares during the period. Quantamental Technologies LLC bought a new position in Seagate Technology during the 2nd quarter valued at about $39,000. Ibex Wealth Advisors bought a new position in Seagate Technology during the 2nd quarter valued at about $61,000. Finally, Meridian Wealth Management LLC bought a new position in Seagate Technology during the 1st quarter valued at about $62,000. 83.61% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO William D. Mosley sold 90,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $54.31, for a total value of $4,887,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen J. Luczo sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $47.45, for a total value of $237,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,000 shares of company stock valued at $6,814,500. 1.12% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on the stock. FBN Securities upped their price target on shares of Seagate Technology from $55.00 to $60.00 in a research report on Thursday. Wedbush assumed coverage on shares of Seagate Technology in a research report on Wednesday, June 26th. They set a “neutral” rating and a $35.00 price target for the company. They noted that the move was a valuation call. Cleveland Research assumed coverage on shares of Seagate Technology in a research report on Friday, June 7th. They set a “hold” rating for the company. Goldman Sachs Group set a $37.00 price target on shares of Seagate Technology and gave the company a “sell” rating in a research report on Sunday, July 21st. Finally, Wells Fargo & Co upped their price target on shares of Seagate Technology from $45.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, September 13th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company’s stock. Seagate Technology presently has an average rating of “Hold” and an average price target of $47.90.
STX traded down $0.54 during trading on Friday, reaching $52.40. 225,472 shares of the company traded hands, compared to its average volume of 2,769,976. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.52 and a current ratio of 1.95. Seagate Technology PLC has a 12-month low of $35.38 and a 12-month high of $57.20. The firm has a fifty day simple moving average of $49.08 and a 200 day simple moving average of $47.35. The company has a market cap of $14.81 billion, a P/E ratio of 10.88, a PEG ratio of 10.77 and a beta of 1.65.
Seagate Technology (NASDAQ:STX) last posted its earnings results on Friday, August 2nd. The data storage provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.33 billion. Seagate Technology had a return on equity of 72.07% and a net margin of 19.36%. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. As a group, sell-side analysts expect that Seagate Technology PLC will post 4.3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.52 dividend on an annualized basis and a yield of 4.81%. Seagate Technology’s dividend payout ratio is presently 52.28%.
Seagate Technology Company Profile
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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