Today, Girard Partners LTD. Buys 5,785 Shares of Seagate Technology PLC (STX)

Today, Girard Partners LTD. Buys 5,785  Shares of Seagate Technology PLC (STX)
Girard Partners LTD. acquired a new stake in shares of Seagate Technology PLC (NASDAQ:STX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,785 shares of the data storage provider’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STX. Spirit of America Management Corp NY purchased a new stake in Seagate Technology PLC during the third quarter worth $104,000. Cowen Prime Services LLC purchased a new stake in Seagate Technology PLC during the second quarter worth $105,000. Seven Bridges Advisors LLC purchased a new stake in Seagate Technology PLC during the third quarter worth $107,000. Glenmede Trust Co. NA increased its stake in Seagate Technology PLC by 30.2% in the second quarter. Glenmede Trust Co. NA now owns 4,650 shares of the data storage provider’s stock worth $113,000 after buying an additional 1,079 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Seagate Technology PLC by 30.2% in the second quarter. Advisory Services Network LLC now owns 5,603 shares of the data storage provider’s stock worth $136,000 after buying an additional 1,300 shares in the last quarter. 86.51% of the stock is owned by institutional investors.

Shares of Seagate Technology PLC (NASDAQ:STX) traded up 0.62% on Friday, reaching $39.06. 1,420,545 shares of the company’s stock were exchanged. Seagate Technology PLC has a one year low of $18.42 and a one year high of $40.10. The company has a 50 day moving average price of $35.94 and a 200 day moving average price of $30.62. The firm has a market cap of $11.50 billion, a PE ratio of 30.93 and a beta of 1.99.

Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings results on Wednesday, October 19th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.20. The business earned $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. Seagate Technology PLC had a return on equity of 49.42% and a net margin of 3.45%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. Analysts expect that Seagate Technology PLC will post $3.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, December 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.49%. Seagate Technology PLC’s dividend payout ratio is currently 200.00%.

STX has been the subject of a number of recent analyst reports. Jefferies Group increased their target price on shares of Seagate Technology PLC from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Craig Hallum increased their target price on shares of Seagate Technology PLC from $37.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 7th. Vetr raised shares of Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $38.84 target price for the company in a research report on Wednesday, September 21st. Brean Capital restated a “buy” rating and set a $42.00 price target on shares of Seagate Technology PLC in a report on Wednesday, September 28th. Finally, Zacks Investment Research upgraded Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology PLC presently has an average rating of “Hold” and a consensus price target of $38.77.

In other news, SVP Mark Re sold 5,800 shares of Seagate Technology PLC stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $33.58, for a total transaction of $194,764.00. Following the transaction, the senior vice president now directly owns 46,970 shares of the company’s stock, valued at approximately $1,577,252.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David H. Morton, Jr. sold 2,773 shares of Seagate Technology PLC stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $35.98, for a total value of $99,772.54. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

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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