DT Investment Partners LLC lifted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 13.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,260 shares of the data storage provider’s stock after acquiring an additional 8,900 shares during the period. DT Investment Partners LLC’s holdings in Seagate Technology were worth $3,452,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in STX. Front Row Advisors LLC lifted its position in shares of Seagate Technology by 91.0% during the 1st quarter. Front Row Advisors LLC now owns 573 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 273 shares during the period. First Interstate Bank bought a new stake in Seagate Technology during the 1st quarter valued at $31,000. Meridian Wealth Management LLC bought a new stake in Seagate Technology during the 1st quarter valued at $62,000. Proffitt & Goodson Inc. bought a new stake in Seagate Technology during the 1st quarter valued at $90,000. Finally, Investors Research Corp bought a new stake in Seagate Technology during the 1st quarter valued at $96,000. Institutional investors own 85.41% of the company’s stock.
STX has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Friday, April 26th. Wedbush initiated coverage on shares of Seagate Technology in a research note 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. BidaskClub lowered shares of Seagate Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Mizuho set a $46.00 price target on shares of Seagate Technology and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Craig Hallum upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Wednesday, May 1st. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.95.
Seagate Technology (NASDAQ:STX) last posted its earnings results on Friday, August 2nd. The data storage provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted $1.62 EPS. The business’s revenue was down 16.4% compared to the same quarter last year. Equities analysts forecast that Seagate Technology PLC will post 4.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.52 annualized dividend and a dividend yield of 5.61%. Seagate Technology’s payout ratio is 52.28%.
In related news, Director Stephen J. Luczo sold 5,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $47.37, for a total transaction of $236,850.00. Following the completion of the transaction, the director now owns 14,221 shares in the company, valued at $673,648.77. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen J. Luczo sold 10,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,000 shares of company stock valued at $1,180,150. Company insiders own 1.00% of the company’s stock.
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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