Toronto Dominion Bank raised its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 56.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,650 shares of the data storage provider’s stock after buying an additional 28,815 shares during the period. Toronto Dominion Bank’s holdings in Seagate Technology PLC were worth $3,658,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of STX. World Asset Management Inc boosted its stake in Seagate Technology PLC by 2.2% in the third quarter. World Asset Management Inc now owns 29,013 shares of the data storage provider’s stock valued at $1,118,000 after buying an additional 611 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in Seagate Technology PLC by 109.7% in the third quarter. State of Wisconsin Investment Board now owns 521,600 shares of the data storage provider’s stock valued at $20,108,000 after buying an additional 272,900 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Seagate Technology PLC during the third quarter valued at approximately $1,045,000. Seven Bridges Advisors LLC purchased a new stake in Seagate Technology PLC during the third quarter valued at approximately $107,000. Finally, Columbia Asset Management purchased a new stake in Seagate Technology PLC during the third quarter valued at approximately $321,000. Institutional investors and hedge funds own 90.47% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ:STX) traded up 0.62% during mid-day trading on Friday, hitting $42.51. The company had a trading volume of 3,271,544 shares. Seagate Technology PLC has a one year low of $20.29 and a one year high of $50.96. The company has a market capitalization of $12.61 billion, a PE ratio of 17.49 and a beta of 1.93. The company’s 50-day moving average is $45.28 and its 200 day moving average is $42.61.
Seagate Technology PLC (NASDAQ:STX) last released its earnings results on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.04. Seagate Technology PLC had a return on equity of 62.25% and a net margin of 4.69%. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the company posted $0.22 EPS. Seagate Technology PLC’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that Seagate Technology PLC will post $4.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend is Monday, June 19th. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 147.37%.
A number of equities research analysts have recently issued reports on STX shares. Goldman Sachs Group Inc upped their price objective on Seagate Technology PLC from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 25th. Jefferies Group LLC dropped their price objective on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. BTIG Research reiterated a “buy” rating and set a $50.00 price objective on shares of Seagate Technology PLC in a research note on Tuesday, January 24th. Needham & Company LLC upped their price objective on Seagate Technology PLC from $55.00 to $57.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price objective on shares of Seagate Technology PLC in a research note on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $42.38.
In other Seagate Technology PLC news, CEO Stephen J. Luczo sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $50.00, for a total transaction of $5,000,000.00. Following the completion of the transaction, the chief executive officer now owns 27,188 shares of the company’s stock, valued at approximately $1,359,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chong Sup Park sold 3,809 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $43.63, for a total value of $166,186.67. Following the transaction, the director now directly owns 11,753 shares of the company’s stock, valued at approximately $512,783.39. The disclosure for this sale can be found here. In the last three months, insiders sold 158,194 shares of company stock valued at $7,701,279. 1.50% of the stock is currently owned by corporate insiders.
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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