Seagate Technology PLC (STX) Holdings Increased by GWM Advisors LLC

GWM Advisors LLC raised its position in shares of Seagate Technology PLC (NASDAQ:STX) by 89.5% in the third quarter, HoldingsChannel.com reports. The firm owned 11,920 shares of the data storage provider’s stock after purchasing an additional 5,630 shares during the quarter. GWM Advisors LLC’s holdings in Seagate Technology were worth $564,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. ValueAct Holdings L.P. grew its position in shares of Seagate Technology by 4.4% during the 2nd quarter. ValueAct Holdings L.P. now owns 22,404,700 shares of the data storage provider’s stock worth $1,265,194,000 after buying an additional 946,100 shares during the period. BlackRock Inc. grew its position in shares of Seagate Technology by 2.0% during the 2nd quarter. BlackRock Inc. now owns 19,515,088 shares of the data storage provider’s stock worth $1,102,017,000 after buying an additional 383,002 shares during the period. Northern Trust Corp grew its position in shares of Seagate Technology by 5.6% during the 2nd quarter. Northern Trust Corp now owns 3,384,188 shares of the data storage provider’s stock worth $191,105,000 after buying an additional 180,301 shares during the period. Morgan Stanley grew its position in shares of Seagate Technology by 81.0% during the 2nd quarter. Morgan Stanley now owns 2,691,882 shares of the data storage provider’s stock worth $152,011,000 after buying an additional 1,204,618 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Seagate Technology by 26.3% during the 3rd quarter. First Trust Advisors LP now owns 2,303,709 shares of the data storage provider’s stock worth $109,081,000 after buying an additional 480,052 shares during the period. 83.24% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on STX shares. Zacks Investment Research raised shares of Seagate Technology from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Goldman Sachs Group downgraded shares of Seagate Technology from a “neutral” rating to a “sell” rating and reduced their price target for the company from $50.00 to $44.00 in a research report on Thursday, August 9th. Evercore ISI downgraded shares of Seagate Technology from an “in-line” rating to an “underperform” rating and reduced their price target for the company from $55.00 to $45.00 in a research report on Tuesday, September 4th. ValuEngine downgraded shares of Seagate Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, BidaskClub downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $53.29.

In other Seagate Technology news, Director Holdings L.P. Valueact bought 581,291 shares of the stock in a transaction dated Thursday, August 9th. The shares were bought at an average cost of $51.36 per share, for a total transaction of $29,855,105.76. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kathryn R. Scolnick sold 10,577 shares of Seagate Technology stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $53.12, for a total value of $561,850.24. Following the sale, the chief financial officer now owns 759 shares in the company, valued at $40,318.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 4,636,648 shares of company stock worth $239,240,175 and have sold 46,086 shares worth $2,529,660. 1.00% of the stock is currently owned by company insiders.

Shares of NASDAQ:STX opened at $44.27 on Friday. 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 1-year low of $36.07 and a 1-year high of $62.70. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 0.59 and a beta of 1.71.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Friday, November 2nd. The data storage provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Seagate Technology had a return on equity of 120.71% and a net margin of 10.57%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the business earned $0.96 EPS. The business’s revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts forecast that Seagate Technology PLC will post 6.11 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 19th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 5.69%. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.

About Seagate Technology

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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