US Bancorp DE boosted its position in Seagate Technology PLC (NASDAQ:STX) by 13.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,752 shares of the data storage provider’s stock after buying an additional 11,458 shares during the period. US Bancorp DE’s holdings in Seagate Technology PLC were worth $4,445,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in Seagate Technology PLC by 4.8% in the fourth quarter. State Street Corp now owns 10,879,253 shares of the data storage provider’s stock worth $415,249,000 after buying an additional 498,500 shares during the last quarter. ValueAct Holdings L.P. boosted its position in Seagate Technology PLC by 218.0% in the third quarter. ValueAct Holdings L.P. now owns 9,539,490 shares of the data storage provider’s stock worth $367,747,000 after buying an additional 6,539,490 shares during the last quarter. Norges Bank purchased a new position in Seagate Technology PLC during the fourth quarter worth $122,042,000. Two Sigma Investments LP boosted its position in Seagate Technology PLC by 247,689.9% in the fourth quarter. Two Sigma Investments LP now owns 2,703,388 shares of the data storage provider’s stock worth $103,188,000 after buying an additional 2,702,297 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Seagate Technology PLC by 12.9% in the first quarter. First Trust Advisors LP now owns 1,737,263 shares of the data storage provider’s stock worth $79,792,000 after buying an additional 198,175 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.
Seagate Technology PLC (NASDAQ:STX) traded up 0.62% during midday trading on Friday, hitting $42.51. 3,272,094 shares of the company were exchanged. The stock has a market capitalization of $12.61 billion, a PE ratio of 17.49 and a beta of 1.93. Seagate Technology PLC has a one year low of $20.29 and a one year high of $50.96. The firm’s 50-day moving average price is $45.28 and its 200-day moving average price is $42.61.
Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings data on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.04. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.71 billion. Seagate Technology PLC had a net margin of 4.69% and a return on equity of 62.25%. Seagate Technology PLC’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. Equities research analysts anticipate that Seagate Technology PLC will post $4.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, June 19th. This represents a $2.52 dividend on an annualized basis and a yield of 5.96%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 147.37%.
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STX has been the subject of a number of analyst reports. Cowen and Company reissued a “market perform” rating and issued a $45.00 price objective (down from $46.00) on shares of Seagate Technology PLC in a research report on Wednesday, April 26th. FBN Securities raised shares of Seagate Technology PLC from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $38.00 to $55.00 in a report on Wednesday, January 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of Seagate Technology PLC in a research note on Monday, March 13th. Morgan Stanley raised their price target on shares of Seagate Technology PLC from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 25th. Finally, BTIG Research raised their price target on shares of Seagate Technology PLC to $55.00 in a research note on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.38.
In other Seagate Technology PLC news, Director Chong Sup Park sold 3,809 shares of Seagate Technology PLC stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $43.63, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Luczo sold 100,000 shares of Seagate Technology PLC stock in a transaction 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 transaction, the chief executive officer now directly owns 27,188 shares in the company, valued at $1,359,400. The disclosure for this sale can be found here. Insiders have sold a total of 158,194 shares of company stock valued at $7,701,279 in the last 90 days. 1.50% of the stock is currently owned by company insiders.
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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