Schroder Investment Management Group decreased its position in Seagate Technology PLC (NASDAQ:STX) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 402,060 shares of the data storage provider’s stock after selling 24,115 shares during the quarter. Schroder Investment Management Group owned 0.14% of Seagate Technology worth $22,660,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of STX. Morgan Stanley raised its holdings in Seagate Technology by 81.0% during the second quarter. Morgan Stanley now owns 2,691,882 shares of the data storage provider’s stock worth $152,011,000 after purchasing an additional 1,204,618 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Seagate Technology during the second quarter worth approximately $62,387,000. Summit Trail Advisors LLC raised its holdings in Seagate Technology by 4,026.7% during the first quarter. Summit Trail Advisors LLC now owns 1,117,799 shares of the data storage provider’s stock worth $1,118,000 after purchasing an additional 1,090,712 shares in the last quarter. ValueAct Holdings L.P. raised its holdings in Seagate Technology by 4.4% during the second quarter. ValueAct Holdings L.P. now owns 22,404,700 shares of the data storage provider’s stock worth $1,265,194,000 after purchasing an additional 946,100 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Seagate Technology during the second quarter worth approximately $31,747,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Valueact Capital Master Fund, acquired 946,000 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were purchased at an average cost of $52.78 per share, for a total transaction of $49,929,880.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen J. Luczo sold 35,000 shares of Seagate Technology stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $55.40, for a total transaction of $1,939,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 6,207,648 shares of company stock worth $322,103,805 and sold 46,086 shares worth $2,529,660. Company insiders own 1.00% of the company’s stock.
Shares of STX opened at $42.99 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.02 and a current ratio of 1.35. The company has a market cap of $13.63 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 0.61 and a beta of 1.70. Seagate Technology PLC has a 12-month low of $33.15 and a 12-month high of $62.70.
Seagate Technology (NASDAQ:STX) last announced its earnings results on Monday, July 30th. The data storage provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.17. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Analysts anticipate that Seagate Technology PLC will post 6.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Wednesday, September 19th were given a $0.63 dividend. The ex-dividend date was Tuesday, September 18th. This represents a $2.52 dividend on an annualized basis and a yield of 5.86%. Seagate Technology’s dividend payout ratio (DPR) is 45.74%.
A number of research firms have weighed in on STX. Zacks Investment Research cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Goldman Sachs Group cut shares of Seagate Technology from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $50.00 to $44.00 in a report on Thursday, August 9th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Tuesday, July 31st. BidaskClub cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Finally, Evercore ISI cut shares of Seagate Technology from an “in-line” rating to an “underperform” rating and cut their price objective for the stock from $55.00 to $45.00 in a report on Tuesday, September 4th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the company. Seagate Technology currently has an average rating of “Hold” and a consensus price target of $53.14.
Seagate Technology Company Profile
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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