Seagate Technology PLC (NASDAQ:STX) Shares Sold by Stephens Inc. AR

Stephens Inc. AR lowered its holdings in Seagate Technology PLC (NASDAQ:STX) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,670 shares of the data storage provider’s stock after selling 2,505 shares during the period. Stephens Inc. AR’s holdings in Seagate Technology were worth $2,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in STX. Virginia Retirement Systems ET AL boosted its holdings in shares of Seagate Technology by 5,423.9% in the second quarter. Virginia Retirement Systems ET AL now owns 370,100 shares of the data storage provider’s stock worth $17,439,000 after buying an additional 363,400 shares during the period. First Trust Advisors LP boosted its holdings in shares of Seagate Technology by 44.9% in the second quarter. First Trust Advisors LP now owns 872,237 shares of the data storage provider’s stock worth $41,100,000 after buying an additional 270,141 shares during the period. BlackRock Inc. boosted its holdings in shares of Seagate Technology by 1.1% in the first quarter. BlackRock Inc. now owns 19,734,970 shares of the data storage provider’s stock worth $945,106,000 after buying an additional 221,030 shares during the period. Andra AP fonden acquired a new position in shares of Seagate Technology in the first quarter worth about $8,697,000. Finally, W.E. Donoghue & Co. LLC acquired a new position in shares of Seagate Technology in the second quarter worth about $6,654,000. 87.90% of the stock is currently owned by institutional investors.

In other news, Director Stephen J. Luczo sold 5,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $47.45, for a total value of $237,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen J. Luczo sold 10,000 shares of Seagate Technology stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,000 shares of company stock worth $1,180,150. Insiders own 1.00% of the company’s stock.

Several research analysts have commented on STX shares. BidaskClub cut shares of Seagate Technology from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Wedbush started coverage on shares of Seagate Technology in a report on Wednesday, June 26th. They issued a “neutral” rating and a $35.00 target price for the company. They noted that the move was a valuation call. Goldman Sachs Group set a $37.00 target price on shares of Seagate Technology and gave the stock a “sell” rating in a report on Sunday, July 21st. Cleveland Research started coverage on shares of Seagate Technology in a report on Friday, June 7th. They set a “hold” rating for the company. Finally, Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Friday, April 26th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.95.

STX traded up $1.45 during midday trading on Friday, hitting $46.03. 2,080,100 shares of the company’s stock traded hands, compared to its average volume of 2,655,662. The company has a market cap of $12.01 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 8.16 and a beta of 1.70. The stock’s fifty day simple moving average is $46.68 and its 200-day simple moving average is $46.49. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.95 and a quick ratio of 1.52. Seagate Technology PLC has a one year low of $35.38 and a one year high of $57.20.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.33 billion. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 earnings per share. On average, research analysts expect that Seagate Technology PLC will post 4.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Tuesday, September 24th. Seagate Technology’s payout ratio is presently 52.28%.

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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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