Seagate Technology PLC (NASDAQ:STX) Stake Boosted by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC raised its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,707,556 shares of the data storage provider’s stock after acquiring an additional 4,539 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.63% of Seagate Technology worth $80,460,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in STX. Sigma Planning Corp purchased a new position in Seagate Technology during the 1st quarter valued at about $204,000. Comerica Bank grew its stake in Seagate Technology by 6.0% during the 1st quarter. Comerica Bank now owns 43,337 shares of the data storage provider’s stock valued at $2,154,000 after acquiring an additional 2,461 shares in the last quarter. 13D Management LLC grew its stake in Seagate Technology by 4.2% during the 1st quarter. 13D Management LLC now owns 255,588 shares of the data storage provider’s stock valued at $12,378,000 after acquiring an additional 10,392 shares in the last quarter. Victory Capital Management Inc. grew its stake in Seagate Technology by 8.0% during the 1st quarter. Victory Capital Management Inc. now owns 194,824 shares of the data storage provider’s stock valued at $9,330,000 after acquiring an additional 14,507 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Seagate Technology by 3.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 25,798 shares of the data storage provider’s stock valued at $1,235,000 after buying an additional 897 shares in the last quarter. 83.74% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on the company. Cowen reissued a “market perform” rating and issued a $40.00 price target (down previously from $47.00) on shares of Seagate Technology in a research note on Monday, August 5th. Mizuho set a $46.00 price target on Seagate Technology and gave the company a “hold” rating in a research note on Friday, August 2nd. Wedbush assumed coverage on Seagate Technology in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $35.00 price target for the company. They noted that the move was a valuation call. Barclays assumed coverage on Seagate Technology in a research note on Wednesday, August 7th. They issued an “underweight” rating and a $37.00 price target for the company. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price target (down previously from $57.00) on shares of Seagate Technology in a research note on Monday, August 5th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $45.75.

Shares of STX stock traded up $0.19 during trading hours on Friday, reaching $56.49. 144,580 shares of the company’s stock were exchanged, compared to its average volume of 2,732,524. Seagate Technology PLC has a fifty-two week low of $35.38 and a fifty-two week high of $57.01. The stock has a market capitalization of $14.89 billion, a P/E ratio of 11.72, a P/E/G ratio of 10.63 and a beta of 1.65. The business has a fifty day moving average price of $47.99 and a 200-day moving average price of $47.05. The company has a quick ratio of 1.52, a current ratio of 1.95 and a debt-to-equity ratio of 1.97.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Friday, August 2nd. The data storage provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Seagate Technology had a return on equity of 72.07% and a net margin of 19.36%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company earned $1.62 earnings per share. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. As a group, research analysts expect that Seagate Technology PLC will post 4.3 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.46%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.28%.

In other news, CEO William D. Mosley sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $54.31, for a total transaction of $4,887,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen J. Luczo sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $47.00, for a total value of $470,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,000 shares of company stock valued at $6,538,050. Corporate insiders own 1.00% of the company’s stock.

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.

Further Reading: Straddles

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

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