Raymond James Financial Services Advisors Inc. Acquires 1,322 Shares of Seagate Technology PLC (STX)
Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,874 shares of the data storage provider’s stock after buying an additional 1,322 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Seagate Technology PLC were worth $1,468,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Seagate Technology PLC by 74.4% during the second quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock worth $63,947,000 after purchasing an additional 703,822 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Seagate Technology PLC during the second quarter worth about $9,699,000. Aviva PLC raised its holdings in Seagate Technology PLC by 2.8% during the second quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock worth $7,022,000 after purchasing an additional 4,950 shares in the last quarter. Meridian Wealth Management LLC raised its holdings in Seagate Technology PLC by 7.9% during the second quarter. Meridian Wealth Management LLC now owns 8,284 shares of the data storage provider’s stock worth $321,000 after purchasing an additional 604 shares in the last quarter. Finally, Sii Investments Inc. WI raised its holdings in Seagate Technology PLC by 4.3% during the first quarter. Sii Investments Inc. WI now owns 6,465 shares of the data storage provider’s stock worth $295,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 90.08% of the company’s stock.
In related news, insider Philip G. Brace acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the completion of the transaction, the insider now owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.87% of the company’s stock.
Several research analysts recently issued reports on STX shares. Cowen and Company reissued a “hold” rating and set a $36.00 price target on shares of Seagate Technology PLC in a report on Friday, October 13th. Citigroup Inc. cut their price target on shares of Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, July 18th. UBS AG reissued a “sell” rating and set a $28.00 price target (down from $34.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Jefferies Group LLC set a $29.00 price target on shares of Seagate Technology PLC and gave the stock a “hold” rating in a report on Sunday, October 15th. Finally, Barclays PLC cut shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $49.00 to $40.00 in a report on Thursday, July 13th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $40.70.
Seagate Technology PLC (STX) opened at 34.94 on Friday. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 13.54 and a beta of 1.72. The firm has a 50 day moving average of $33.27 and a 200-day moving average of $38.26. 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 announced its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.34). Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts forecast that Seagate Technology PLC will post $3.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date of this dividend was Tuesday, September 19th. Seagate Technology PLC’s payout ratio is presently 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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