ARP Americas LP bought a new position in Seagate Technology PLC (NASDAQ:STX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,752 shares of the data storage provider’s stock, valued at approximately $424,000.
A number of other large investors also recently made changes to their positions in STX. Balentine LLC purchased a new position in Seagate Technology in the first quarter worth $25,000. Quadrant Capital Group LLC boosted its position in Seagate Technology by 346.3% during the fourth quarter. Quadrant Capital Group LLC now owns 540 shares of the data storage provider’s stock valued at $28,000 after buying an additional 419 shares during the period. Paragon Capital Management LLC purchased a new stake in Seagate Technology during the first quarter valued at about $28,000. First Horizon Advisors Inc. boosted its position in Seagate Technology by 145.6% during the first quarter. First Horizon Advisors Inc. now owns 587 shares of the data storage provider’s stock valued at $29,000 after buying an additional 348 shares during the period. Finally, WASHINGTON TRUST Co purchased a new stake in Seagate Technology during the first quarter valued at about $29,000. Institutional investors own 83.55% of the company’s stock.
STX has been the subject of several analyst reports. Cfra cut their price target on shares of Seagate Technology from $58.00 to $54.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Cowen lowered their price objective on shares of Seagate Technology from $50.00 to $44.00 and set a “market perform” rating for the company in a research note on Wednesday. Craig Hallum raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Thursday, April 23rd. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 target price on shares of Seagate Technology in a research note on Thursday, April 23rd. Finally, Wells Fargo & Co cut their price target on shares of Seagate Technology from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $53.00.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $1.20 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.20. Seagate Technology had a net margin of 9.55% and a return on equity of 68.62%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts expect that Seagate Technology PLC will post 5.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 23rd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend is Tuesday, September 22nd. Seagate Technology’s dividend payout ratio is presently 56.89%.
In other news, Director Stephen J. Luczo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $50.91, for a total transaction of $254,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ban Seng Teh sold 498 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $52.80, for a total value of $26,294.40. Following the transaction, the senior vice president now owns 11,197 shares of the company’s stock, valued at $591,201.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,493 shares of company stock valued at $1,059,254. Company insiders own 1.12% of the company’s stock.
Seagate Technology 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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