Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 23.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,771 shares of the data storage provider’s stock after purchasing an additional 5,391 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Seagate Technology were worth $1,393,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of STX. Guggenheim Capital LLC boosted its holdings in shares of Seagate Technology by 21.3% during the fourth quarter. Guggenheim Capital LLC now owns 251,195 shares of the data storage provider’s stock worth $14,947,000 after purchasing an additional 44,087 shares during the last quarter. Profund Advisors LLC boosted its holdings in shares of Seagate Technology by 16.3% during the fourth quarter. Profund Advisors LLC now owns 5,898 shares of the data storage provider’s stock worth $351,000 after purchasing an additional 827 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Seagate Technology by 53.0% during the fourth quarter. Macquarie Group Ltd. now owns 26,157 shares of the data storage provider’s stock worth $1,556,000 after purchasing an additional 9,057 shares during the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology during the fourth quarter worth $178,150,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Seagate Technology by 346.3% during the fourth quarter. Quadrant Capital Group LLC now owns 540 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.
Several research firms have recently issued reports on STX. Sanford C. Bernstein began coverage on Seagate Technology in a report on Tuesday, July 14th. They set a “market perform” rating and a $45.00 price objective on the stock. Susquehanna Bancshares reaffirmed a “sell” rating and issued a $33.00 target price on shares of Seagate Technology in a research report on Wednesday. ValuEngine lowered Seagate Technology from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Cross Research lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Summit Insights raised Seagate Technology from a “sell” rating to a “hold” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. Seagate Technology has an average rating of “Hold” and an average target price of $53.00.
Shares of NASDAQ STX opened at $45.22 on Friday. Seagate Technology PLC has a 1 year low of $39.02 and a 1 year high of $64.17. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 7.15 and a beta of 1.03. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.08 and a current ratio of 1.51. The stock’s 50-day simple moving average is $48.53 and its 200-day simple moving average is $50.95.
Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.20. Seagate Technology had a return on equity of 68.62% and a net margin of 9.55%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts predict that Seagate Technology PLC will post 5.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date is Tuesday, September 22nd. Seagate Technology’s payout ratio is 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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