First Trust Advisors LP increased its position in shares of Seagate Technology PLC (NASDAQ:STX) by 28.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,044,778 shares of the data storage provider’s stock after purchasing an additional 674,442 shares during the period. First Trust Advisors LP owned approximately 1.06% of Seagate Technology PLC worth $100,995,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. increased its stake in Seagate Technology PLC by 44.8% during the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock worth $535,361,000 after acquiring an additional 4,276,275 shares during the period. Janus Henderson Group PLC increased its stake in Seagate Technology PLC by 7,384.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock worth $104,662,000 after acquiring an additional 2,664,861 shares during the period. Vanguard Group Inc. increased its stake in Seagate Technology PLC by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after acquiring an additional 2,292,075 shares during the period. Schroder Investment Management Group increased its stake in Seagate Technology PLC by 181.1% during the 2nd quarter. Schroder Investment Management Group now owns 1,772,547 shares of the data storage provider’s stock worth $68,970,000 after acquiring an additional 1,141,917 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Seagate Technology PLC by 74.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock worth $63,947,000 after acquiring an additional 703,822 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.
In related news, insider Philip G. Brace acquired 1,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was acquired at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the completion of the acquisition, the insider now directly owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dambisa F. Moyo sold 8,715 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total transaction of $339,972.15. Following the completion of the sale, the director now owns 3,316 shares of the company’s stock, valued at $129,357.16. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.
STX has been the topic of a number of recent research reports. Cowen and Company restated a “hold” rating and set a $36.00 price objective on shares of Seagate Technology PLC in a research note on Friday, October 13th. Citigroup Inc decreased their price target on Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 18th. UBS Group AG reiterated a “sell” rating and issued a $28.00 price target (down previously from $34.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Jefferies Group LLC set a $29.00 price target on Seagate Technology PLC and gave the company a “hold” rating in a research note on Sunday, October 15th. Finally, Barclays PLC lowered Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $49.00 to $40.00 in a research note on Thursday, July 13th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.61.
Shares of Seagate Technology PLC (NASDAQ STX) traded up 0.590% on Thursday, hitting $38.375. The stock had a trading volume of 1,794,734 shares. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $50.96. The firm has a 50 day moving average of $33.78 and a 200-day moving average of $38.04. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 14.874 and a beta of 1.72.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. Seagate Technology PLC’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Equities analysts predict that Seagate Technology PLC will post $4.00 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 annualized dividend and a yield of 6.61%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 95.09%.
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.