Acadian Asset Management LLC boosted its holdings in Seagate Technology PLC (NASDAQ:STX) by 25.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,344 shares of the data storage provider’s stock after acquiring an additional 1,087 shares during the quarter. Acadian Asset Management LLC’s holdings in Seagate Technology were worth $302,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its position in Seagate Technology by 4.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,496 shares of the data storage provider’s stock valued at $1,434,000 after acquiring an additional 1,046 shares during the period. American Century Companies Inc. increased its position in Seagate Technology by 0.3% in the 1st quarter. American Century Companies Inc. now owns 380,068 shares of the data storage provider’s stock valued at $22,242,000 after acquiring an additional 1,099 shares during the period. IFP Advisors Inc increased its position in Seagate Technology by 7.6% in the 1st quarter. IFP Advisors Inc now owns 16,778 shares of the data storage provider’s stock valued at $982,000 after acquiring an additional 1,178 shares during the period. Wedbush Securities Inc. increased its position in Seagate Technology by 11.7% in the 1st quarter. Wedbush Securities Inc. now owns 11,785 shares of the data storage provider’s stock valued at $690,000 after acquiring an additional 1,231 shares during the period. Finally, Wrapmanager Inc. increased its position in Seagate Technology by 4.5% in the 1st quarter. Wrapmanager Inc. now owns 30,484 shares of the data storage provider’s stock valued at $1,784,000 after acquiring an additional 1,323 shares during the period. Hedge funds and other institutional investors own 83.08% of the company’s stock.
Several brokerages have recently issued reports on STX. BidaskClub upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, August 7th. Cfra reiterated a “hold” rating on shares of Seagate Technology in a research report on Tuesday, May 1st. Cowen set a $55.00 price target on Seagate Technology and gave the company a “market perform” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, July 31st. Finally, Maxim Group reiterated a “hold” rating and set a $54.00 price target (up from $52.00) on shares of Seagate Technology in a research report on Wednesday, May 2nd. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.77.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Monday, July 30th. The data storage provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.17. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.80 billion. Seagate Technology had a return on equity of 120.71% and a net margin of 10.57%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. equities research analysts forecast that Seagate Technology PLC will post 6.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Tuesday, September 18th. Seagate Technology’s dividend payout ratio is presently 45.74%.
In other Seagate Technology news, insider Valueact Capital Master Fund, bought 2,090,783 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was acquired at an average price of $50.94 per share, with a total value of $106,504,486.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen J. Luczo sold 5,681 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $60.00, for a total value of $340,860.00. The disclosure for this sale can be found here. Over the last three months, insiders have bought 4,752,566 shares of company stock valued at $245,263,358. Corporate insiders own 0.87% 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. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.
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