Wharton Business Group LLC reduced its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 24.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,855 shares of the data storage provider’s stock after selling 1,270 shares during the period. Wharton Business Group LLC’s holdings in Seagate Technology PLC were worth $149,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of STX. Global X Management Co. LLC boosted its position in Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Seagate Technology PLC in the second quarter valued at about $150,000. First Quadrant L P CA acquired a new position in Seagate Technology PLC in the second quarter valued at about $153,000. Sigma Investment Counselors Inc. acquired a new position in Seagate Technology PLC in the first quarter valued at about $201,000. Finally, Private Advisory Group LLC acquired a new position in Seagate Technology PLC in the first quarter valued at about $206,000. Institutional investors and hedge funds own 89.88% of the company’s stock.
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Shares of Seagate Technology PLC (STX) traded down 2.75% during midday trading on Monday, hitting $31.11. 2,802,285 shares of the stock traded hands. The firm has a 50-day moving average price of $32.50 and a 200-day moving average price of $41.06. The stock has a market capitalization of $9.08 billion, a P/E ratio of 12.06 and a beta of 1.69. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.99 by $0.34. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, equities analysts predict that Seagate Technology PLC will post $3.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.52 annualized dividend and a dividend yield of 7.88%. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.
In related news, insider Philip G. Brace acquired 1,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was bought at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the purchase, the insider now directly owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.87% of the company’s stock.
A number of equities analysts have commented on the stock. Evercore ISI assumed coverage on shares of Seagate Technology PLC in a research report on Friday, June 16th. They issued an “in-line” rating and a $48.00 price target on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $35.00 price target on shares of Seagate Technology PLC in a research report on Friday, September 1st. Maxim Group restated a “hold” rating and issued a $38.00 price target (down from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, July 26th. Craig Hallum lowered shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, Mizuho reduced their price target on shares of Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 25th. Five investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology PLC presently has an average rating of “Hold” and an average price target of $40.83.
About Seagate Technology PLC
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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