Spark Investment Management LLC increased its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 84.7% during the first quarter, Holdings Channel reports. The firm owned 71,100 shares of the data storage provider’s stock after buying an additional 32,615 shares during the period. Spark Investment Management LLC’s holdings in Seagate Technology PLC were worth $3,265,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Balentine LLC bought a new position in shares of Seagate Technology PLC during the third quarter valued at approximately $110,000. Winslow Evans & Crocker Inc. increased its position in shares of Seagate Technology PLC by 12.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,726 shares of the data storage provider’s stock valued at $125,000 after buying an additional 300 shares during the period. Ledyard National Bank increased its position in shares of Seagate Technology PLC by 1,318.3% in the first quarter. Ledyard National Bank now owns 4,255 shares of the data storage provider’s stock valued at $195,000 after buying an additional 3,955 shares during the period. Sigma Investment Counselors Inc. bought a new position in shares of Seagate Technology PLC during the first quarter valued at approximately $201,000. Finally, Eqis Capital Management Inc. bought a new position in shares of Seagate Technology PLC during the first quarter valued at approximately $209,000. Institutional investors own 90.47% of the company’s stock.
Shares of Seagate Technology PLC (NASDAQ STX) opened at 41.89 on Wednesday. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 17.24 and a beta of 1.93. The company has a 50-day moving average price of $43.80 and a 200-day moving average price of $43.37. Seagate Technology PLC has a 12 month low of $20.76 and a 12 month high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last announced its quarterly earnings data on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.04. Seagate Technology PLC had a return on equity of 62.25% and a net margin of 4.69%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company earned $0.22 EPS. Seagate Technology PLC’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts forecast that Seagate Technology PLC will post $4.45 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 19th. This represents a $2.52 annualized dividend and a dividend yield of 6.02%. Seagate Technology PLC’s dividend payout ratio is currently 147.37%.
COPYRIGHT VIOLATION NOTICE: This news story was posted by sleekmoney and is owned by of sleekmoney. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://sleekmoney.com/seagate-technology-plc-stx-position-increased-by-spark-investment-management-llc/1887819.html.
Several research firms have recently weighed in on STX. Vetr raised Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.83 price objective for the company in a research report on Monday, March 6th. Longbow Research raised Seagate Technology PLC from a “neutral” rating to a “buy” rating and increased their price objective for the company from $18.42 to $55.00 in a research report on Tuesday, April 11th. BTIG Research reissued a “buy” rating and issued a $55.00 price objective on shares of Seagate Technology PLC in a research report on Thursday, April 6th. Jefferies Group LLC reduced their price objective on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price objective (down from $46.00) on shares of Seagate Technology PLC in a research report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Seagate Technology PLC has an average rating of “Hold” and an average price target of $42.60.
In other Seagate Technology PLC news, SVP Mark Re sold 9,607 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $43.47, for a total value of $417,616.29. Following the completion of the transaction, the senior vice president now owns 40,470 shares of the company’s stock, valued at approximately $1,759,230.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Chong Sup Park sold 3,809 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $43.63, for a total value of $166,186.67. Following the completion of the transaction, the director now directly owns 11,753 shares of the company’s stock, valued at approximately $512,783.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,416 shares of company stock valued at $5,583,803. 1.50% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology PLC (NASDAQ:STX).
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/seagate-technology-plc-stx-position-increased-by-spark-investment-management-llc/1887819.html
Receive News & Ratings for Seagate Technology PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology PLC and related companies with MarketBeat.com's FREE daily email newsletter.