First Trust Advisors LP Has $91.85 Million Position in Seagate Technology PLC (NASDAQ:STX)

First Trust Advisors LP boosted its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 36.4% during the second quarter, Holdings Channel reports. The fund owned 2,370,336 shares of the data storage provider’s stock after buying an additional 633,073 shares during the period. First Trust Advisors LP’s holdings in Seagate Technology PLC were worth $91,851,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Seagate Technology PLC by 3.8% in the first quarter. Vanguard Group Inc. now owns 31,119,928 shares of the data storage provider’s stock valued at $1,429,338,000 after buying an additional 1,132,336 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Seagate Technology PLC by 3,179.5% in the first quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock valued at $842,196,000 after buying an additional 17,777,387 shares during the last quarter. State Street Corp boosted its stake in shares of Seagate Technology PLC by 3.4% in the first quarter. State Street Corp now owns 11,253,471 shares of the data storage provider’s stock valued at $516,900,000 after buying an additional 374,218 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Seagate Technology PLC by 25.1% in the first quarter. Geode Capital Management LLC now owns 3,206,093 shares of the data storage provider’s stock valued at $147,067,000 after buying an additional 642,845 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Seagate Technology PLC by 355.8% in the first quarter. Prudential Financial Inc. now owns 2,603,387 shares of the data storage provider’s stock valued at $119,573,000 after buying an additional 2,032,271 shares during the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.

Shares of Seagate Technology PLC (STX) opened at 31.55 on Friday. The stock’s 50 day moving average is $37.03 and its 200 day moving average is $43.02. The company has a market cap of $9.21 billion, a PE ratio of 12.23 and a beta of 1.69. Seagate Technology PLC has a 52-week low of $31.33 and a 52-week high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the business earned $0.69 EPS. The company’s quarterly revenue was down 9.3% on a year-over-year basis. Equities analysts forecast that Seagate Technology PLC will post $3.70 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.99%. Seagate Technology PLC’s dividend payout ratio (DPR) is 97.67%.

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Several equities research analysts have weighed in on STX shares. Citigroup Inc. dropped their price target on shares of Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, July 18th. UBS AG reissued a “sell” rating and set a $28.00 price target (down previously from $34.00) on shares of Seagate Technology PLC in a research report on Wednesday, July 26th. Barclays PLC cut shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $49.00 to $40.00 in a research report on Thursday, July 13th. Jefferies Group LLC dropped their target price on shares of Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Finally, Longbow Research cut shares of Seagate Technology PLC from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 25th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $42.12.

In other news, SVP Mark Re sold 9,607 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $43.47, for a total transaction of $417,616.29. Following the transaction, the senior vice president now owns 40,470 shares in the company, valued at approximately $1,759,230.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip G. Brace bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $33.34 per share, for a total transaction of $33,340.00. Following the transaction, the insider now directly owns 62,855 shares in the company, valued at $2,095,585.70. The disclosure for this purchase can be found here. Insiders have sold a total of 16,456 shares of company stock worth $715,313 in the last quarter. Insiders own 1.50% of the company’s stock.

Seagate Technology PLC Company Profile

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

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