Oak Associates Ltd. OH Has $12.61 Million Holdings in Seagate Technology PLC (STX)
Oak Associates Ltd. OH grew its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,340 shares of the data storage provider’s stock after buying an additional 54,415 shares during the quarter. Oak Associates Ltd. OH owned approximately 0.11% of Seagate Technology PLC worth $12,607,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position 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 buying an additional 703,822 shares in the last quarter. CIBC World Markets Inc. bought a new stake in Seagate Technology PLC during the 2nd quarter worth about $9,699,000. Aviva PLC lifted its position in Seagate Technology PLC by 2.8% during the 2nd quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock worth $7,022,000 after buying an additional 4,950 shares in the last quarter. Meridian Wealth Management LLC lifted its position in Seagate Technology PLC by 7.9% during the 2nd quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock worth $321,000 after buying an additional 604 shares in the last quarter. Finally, Sii Investments Inc. WI lifted its position in Seagate Technology PLC by 4.3% during the 1st quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock worth $295,000 after buying an additional 269 shares in the last quarter. 90.15% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average price of $33.34 per share, with a total value of $33,340.00. Following the completion of the purchase, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is currently owned by insiders.
Several brokerages have commented on STX. Benchmark Co. cut shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Seagate Technology PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Mizuho cut their price target on shares of Seagate Technology PLC from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 25th. Loop Capital assumed coverage on shares of Seagate Technology PLC in a report on Monday, July 24th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Barclays PLC cut shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $49.00 to $40.00 in a report on Thursday, July 13th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.70.
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Seagate Technology PLC (NASDAQ STX) traded up 2.32% during mid-day trading on Friday, hitting $34.40. 4,179,203 shares of the company traded hands. The firm has a market capitalization of $9.90 billion, a P/E ratio of 13.33 and a beta of 1.72. The firm has a 50 day moving average of $32.90 and a 200 day moving average of $38.62. Seagate Technology PLC has a one year low of $30.60 and a one year high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.34). The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. Seagate Technology PLC’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. Equities research analysts expect that Seagate Technology PLC will post $3.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $2.52 annualized dividend and a yield of 7.33%. Seagate Technology PLC’s dividend payout ratio is currently 97.67%.
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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