Iat Reinsurance Co. LTD. acquired a new stake in Seagate Technology PLC (NASDAQ:STX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 375,500 shares of the data storage provider’s stock, valued at approximately $12,455,000. Seagate Technology PLC accounts for 1.9% of Iat Reinsurance Co. LTD.’s investment portfolio, making the stock its 12th largest position. Iat Reinsurance Co. LTD. owned 0.13% of Seagate Technology PLC as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. ValueAct Holdings L.P. grew its position in Seagate Technology PLC by 44.8% during the second quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock valued at $535,361,000 after acquiring an additional 4,276,275 shares during the period. Janus Henderson Group PLC grew its position in Seagate Technology PLC by 7,384.8% during the second quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock valued at $104,662,000 after acquiring an additional 2,664,861 shares during the period. Vanguard Group Inc. grew its position in Seagate Technology PLC by 7.4% during the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after acquiring an additional 2,292,075 shares during the period. Schroder Investment Management Group grew its position in Seagate Technology PLC by 181.1% during the second quarter. Schroder Investment Management Group now owns 1,772,547 shares of the data storage provider’s stock valued at $68,970,000 after acquiring an additional 1,141,917 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Seagate Technology PLC by 74.4% during the second quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock valued at $63,947,000 after acquiring an additional 703,822 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. Vetr downgraded Seagate Technology PLC from a “strong-buy” rating to a “buy” rating and set a $41.39 price target for the company. in a research report on Tuesday, October 31st. BMO Capital Markets reissued a “hold” rating and set a $40.00 price target on shares of Seagate Technology PLC in a research report on Monday, October 23rd. Guggenheim reissued a “hold” rating on shares of Seagate Technology PLC in a research report on Monday, October 23rd. BidaskClub raised Seagate Technology PLC from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 25th. Finally, Argus restated a “hold” rating and set a $40.00 price objective on shares of Seagate Technology PLC in a research note on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.29.
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Seagate Technology PLC (STX) traded down $0.33 during trading hours on Tuesday, hitting $37.66. The stock had a trading volume of 2,305,600 shares, compared to its average volume of 5,228,802. The company has a market capitalization of $10,900.00, a price-to-earnings ratio of 9.29, a PEG ratio of 0.50 and a beta of 1.68. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Monday, October 23rd. The data storage provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 earnings per share. sell-side analysts forecast that Seagate Technology PLC will post 3.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date of this dividend is Tuesday, December 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is 95.45%.
In related news, insider Philip G. Brace sold 5,403 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $36.79, for a total value of $198,776.37. Following the completion of the transaction, the insider now directly owns 33,069 shares of the company’s stock, valued at approximately $1,216,608.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David H. Morton, Jr. sold 7,909 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total value of $316,360.00. Following the completion of the transaction, the chief financial officer now directly owns 25,561 shares of the company’s stock, valued at $1,022,440. The disclosure for this sale can be found here. Insiders sold a total of 24,527 shares of company stock valued at $856,859 over the last three months. Corporate insiders own 0.87% of the company’s stock.
Seagate Technology PLC Company Profile
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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