Seagate Technology PLC (STX) Position Cut by Schroder Investment Management Group

Schroder Investment Management Group trimmed its position in Seagate Technology PLC (NASDAQ:STX) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,060 shares of the data storage provider’s stock after selling 24,115 shares during the quarter. Schroder Investment Management Group’s holdings in Seagate Technology were worth $22,660,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Global X Management Co LLC increased its stake in Seagate Technology by 295.2% in the second quarter. Global X Management Co LLC now owns 19,056 shares of the data storage provider’s stock valued at $1,076,000 after acquiring an additional 14,234 shares during the last quarter. Bank of Nova Scotia increased its stake in Seagate Technology by 199.5% in the second quarter. Bank of Nova Scotia now owns 120,491 shares of the data storage provider’s stock valued at $6,805,000 after acquiring an additional 80,266 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Seagate Technology in the second quarter valued at approximately $146,000. Cozad Asset Management Inc. acquired a new stake in Seagate Technology in the second quarter valued at approximately $475,000. Finally, Millennium Management LLC boosted its position in Seagate Technology by 168.9% in the second quarter. Millennium Management LLC now owns 745,150 shares of the data storage provider’s stock valued at $42,079,000 after buying an additional 468,068 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Holdings L.P. Valueact bought 500,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was acquired at an average price of $52.65 per share, with a total value of $26,325,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James J. Murphy sold 509 shares of Seagate Technology stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $56.60, for a total transaction of $28,809.40. Following the transaction, the executive vice president now directly owns 37,693 shares of the company’s stock, valued at approximately $2,133,423.80. The disclosure for this sale can be found here. In the last quarter, insiders have bought 6,207,648 shares of company stock worth $322,103,805 and have sold 46,086 shares worth $2,529,660. 1.00% of the stock is currently owned by insiders.

A number of brokerages have weighed in on STX. Zacks Investment Research lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. BidaskClub lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. ValuEngine lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. Goldman Sachs Group lowered shares of Seagate Technology from a “neutral” rating to a “sell” rating and cut their target price for the company from $50.00 to $44.00 in a research report on Thursday, August 9th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $62.00 target price on shares of Seagate Technology in a research report on Monday, July 30th. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the company. Seagate Technology presently has a consensus rating of “Hold” and an average price target of $53.14.

Shares of NASDAQ:STX opened at $49.28 on Monday. The firm has a market cap of $14.19 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 0.63 and a beta of 1.73. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 2.59. Seagate Technology PLC has a 52 week low of $32.41 and a 52 week high of $62.70.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, July 30th. The data storage provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.17. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. Seagate Technology’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. equities analysts anticipate that Seagate Technology PLC will post 6.3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 18th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.11%. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.

Seagate Technology 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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