ANTIPODES PARTNERS Ltd lifted its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 21.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,716,356 shares of the data storage provider’s stock after acquiring an additional 308,185 shares during the quarter. Seagate Technology comprises approximately 3.8% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 9th biggest holding. ANTIPODES PARTNERS Ltd owned approximately 0.67% of Seagate Technology worth $83,088,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Guggenheim Capital LLC lifted its holdings in Seagate Technology by 21.3% in the 4th quarter. Guggenheim Capital LLC now owns 251,195 shares of the data storage provider’s stock worth $14,947,000 after buying an additional 44,087 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Seagate Technology by 16.3% in the 4th quarter. Profund Advisors LLC now owns 5,898 shares of the data storage provider’s stock valued at $351,000 after purchasing an additional 827 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Seagate Technology by 53.0% in the 4th quarter. Macquarie Group Ltd. now owns 26,157 shares of the data storage provider’s stock valued at $1,556,000 after purchasing an additional 9,057 shares in the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $178,150,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Seagate Technology by 346.3% in the 4th quarter. Quadrant Capital Group LLC now owns 540 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 419 shares in the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Loop Capital lowered their price objective on shares of Seagate Technology from $70.00 to $60.00 in a research report on Thursday, April 23rd. Deutsche Bank upped their target price on shares of Seagate Technology from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, April 23rd. Goldman Sachs Group assumed coverage on shares of Seagate Technology in a research report on Monday, April 13th. They issued a “sell” rating and a $41.00 target price for the company. Wells Fargo & Co decreased their price objective on shares of Seagate Technology from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Robert W. Baird reiterated a “buy” rating and issued a $65.00 price objective on shares of Seagate Technology in a report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $53.00.
NASDAQ STX traded up $0.82 during trading on Friday, reaching $45.22. 7,368,660 shares of the stock traded hands, compared to its average volume of 3,397,988. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 6.91 and a beta of 1.03. The stock’s 50-day moving average price is $48.53 and its 200 day moving average price is $50.95. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 2.33. Seagate Technology PLC has a fifty-two week low of $39.02 and a fifty-two week high of $64.17.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $1.20 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.20. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.62 billion. Seagate Technology had a net margin of 9.55% and a return on equity of 68.62%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Analysts anticipate that Seagate Technology PLC will post 5.31 EPS for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $2.60 annualized dividend and a dividend yield of 5.75%. Seagate Technology’s dividend payout ratio is currently 56.89%.
About Seagate Technology
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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